PASTI Task Force Shuts Down 16 Illegal Investment Entities

The Illegal Financial Activities Eradication Task Force (Satgas PASTI) has halted the activities of 16 entities suspected of offering illegal investments in Indonesia. The entities used schemes involving deposits and paid tasks, as well as investment offers in shares, foreign exchange and crypto-assets, Money reported.

Satgas PASTI Secretariat head Hudiyanto said the action was accompanied by the blocking of the apps and internet links used by the entities. The task force will also coordinate with law enforcement to follow up on its findings.

The 16 entities are GPUCore, PilotXone, Aset Saham, Orion Wealth, Jadiduit, Impersonasi Easy Cash, EarnTycoon, ZEDT, USDT AL, Task 33, Zahra Berkah, Singapore Bhinneka Capital (SBC), MAERA, OneTwoMarkets, Brevondale and Impersonasi Guotai Haitong.

The first 10 entities were suspected of offering investments through computing-resource rental schemes. Their methods included paid tasks, deposits and member-get-member systems to attract the public.

Satgas PASTI’s clarification and verification found that the 10 entities had no legal entity status in Indonesia and were not authorised by the Financial Services Authority (OJK). They were also not registered with the Ministry of Investment and Downstreaming/Investment Coordinating Board (BKPM).

The apps and websites they used were not registered as Electronic System Providers (PSE) with the Ministry of Communication and Digital Affairs (Komdigi).

Satgas PASTI also halted Zahra Berkah, which was suspected of offering an investment scheme requiring deposits and promising returns of up to 80 per cent in 30 days. Its promotions claimed it was licensed and registered with OJK, and used testimonials and transfer receipts as proof of profit withdrawals.

However, an examination found that Zahra Berkah had no legal entity status in Indonesia and was neither registered with nor authorised by OJK.

Singapore Bhinneka Capital (SBC) was also shut down over suspected offers of share-trading investments using deposits and a member-get-member scheme. Satgas PASTI’s verification found that SBC had neither OJK authorisation nor a business licence from the Ministry of Investment and Downstreaming/BKPM.

SBC’s app and website were also not registered as PSE with Komdigi. The same was found in the case of MAERA, which offered investments through deposits and paid tasks.

MAERA had previously claimed to be a legal entity named PT MAERA Movie Indonesia and to hold a licence to operate in Indonesia. However, an examination found that it had no legal entity status in the country, was not authorised by OJK and was not registered with the Ministry of Investment and Downstreaming/BKPM.

Among offers involving financial instruments, Satgas PASTI halted OneTwoMarkets, which was suspected of offering investments in foreign exchange, commodities, crypto-assets, shares and indices.

Verification found that OneTwoMarkets had no legal entity status in Indonesia and lacked OJK authorisation to operate as an investment manager, investment adviser, crowdfunding service provider or securities company. It was also not registered with the Ministry of Investment and Downstreaming/BKPM, while its app and website were not listed as PSE with Komdigi.

Brevondale was the next entity to be shut down, over suspected offers of share investments. The company claimed to be an equity firm based in Colorado, United States.

However, Satgas PASTI found that Brevondale did not have OJK authorisation. Its business activities also did not match the licence issued by the Ministry of Investment and Downstreaming/BKPM, and its app and website were not registered as PSE with Komdigi.

Satgas PASTI also halted Impersonasi Guotai Haitong, which was suspected of offering property-asset financing using the identity of Guotai Haitong Securities Co Ltd, a securities firm licensed to operate in China.

Despite using the identity of the Chinese securities firm, clarification and verification found that the entity offering the investment had no legal entity status in Indonesia, lacked OJK authorisation and was not registered with the Ministry of Investment and Downstreaming/BKPM. The app and website it used were also not registered as PSE with Komdigi.