OJK Raids Mirae Asset Sekuritas Office, Investigates Alleged BEBS IPO Manipulation

Jakarta – The Financial Services Authority (OJK) raided the office of PT Mirae Asset Sekuritas Indonesia on Wednesday afternoon (4 March 2026) in connection with allegations of a capital market crime. M. Ismail Riyadi, head of the OJK’s Department of Financial Literacy, Inclusion and Communication, said the move is part of the legal process. ‘The raid at PT MASI’s office, located in the Sudirman Central Business District, Jakarta, on Wednesday, is part of the law enforcement process over suspected capital market crimes,’ he said in a written statement.

The action violates Article 104 in conjunction with Article 90 subsidarily Article 107 of Law Number 8 of 1995 on the Capital Market. ‘The alleged manipulation of reports and information is suspected to involve the securities sector,’ Ismail said.

Investigators also found suspected fictitious transactions. The transactions occurred between affiliated entities involving seven companies and 58 individual nominee entities. Six operators carried out the transactions under the suspect’s control.

The sequence of transactions is alleged to have pushed the price of PT Berkah Beton Sadaya (BEBS) on the regular market up by around 7,150 percent.

‘In handling the case, investigators from OJK have questioned 25 witnesses, drawn from MASI, BEBS, banks, the nominee entities, and other related parties,’ he said.

OJK continues to coordinate with the District Court and the Civil Servant Supervising Coordinators of the Police’s Criminal Investigation Agency (Bareskrim) in the investigation of the case.

‘Law enforcement is being carried out consistently and sustainably as a manifestation of OJK’s commitment to maintaining the integrity of the financial services sector, protecting the interests of investors and the public, and ensuring trust in the national financial system remains intact,’ he added.