Task Force PASTI Halts PT Econext Ventures, Illegal Green Investment Shut Down

The Investment Alert Task Force (Satgas PASTI) has officially halted all business activities of PT Econext Ventures Indonesia (EVI), which is suspected of operating an illegal investment scheme under the guise of green investments and multi-level marketing. The enforcement action was taken after clarifications revealed that EVI did not possess a licence from the Financial Services Authority (OJK) as a securities crowdfunding provider, its business licence did not comply with the provisions of the Ministry of Investment/BKPM, and its application and website were not registered as Electronic System Providers with the Ministry of Communication and Informatics. The company’s membership in the Indonesian Crowdfunding Services Association (ALUDI) has also been revoked.

Satgas PASTI will block the related application and URLs and is coordinating with law enforcement for further criminal proceedings. This action serves as a strong signal that the OJK and the task force will not hesitate to take measures against entities that claim to be in the licensing process or promise certain returns without regulatory compliance. For the public, this case is a reminder that claims of ‘being in the licensing process’ do not guarantee legality. Investors who have deposited funds face the risk of total loss if the company lacks real assets or a clear recovery scheme. The OJK urges victims to report to local law enforcement immediately to expedite the handling process and potential asset recovery.

The impact extends beyond direct victims to legitimate players in the crowdfunding industry. Any investment scam that misuses the ‘crowdfunding’ label risks eroding public trust in technology-based funding instruments that the government is actively promoting. In the short term, green investment and technology offerings will face stricter validation from potential investors, and regulators will become more aggressive in their oversight.