Why Was Mirae Asset Sekuritas' Office Raided by OJK?

Jakarta – Mirae Asset Sekuritas Indonesia’s office in the Treasury Tower, Sudirman Central Business District (SCBD), South Jakarta, was raided by the Financial Services Authority (OJK) on Wednesday, 4 March 2026, as part of an investigation into alleged misconduct in the capital markets. The investigation team from OJK, with support from the Criminal Investigation Agency (Bareskrim) of the Indonesian National Police, collected a number of pieces of evidence during the search.

Why was Mirae Asset’s office raided? In general, the raid was conducted because the investigators require evidence to probe suspected criminal actions by PT Mirae Asset Sekuritas and PT Berkah Beton Sadaya (BEBS) in the capital markets. Both are suspected of violating Law No. 8 of 1995 on the Capital Market, specifically Article 104 in conjunction with Article 90 subsidised by Article 107 and Article 104 in conjunction with Article 91.

M. Ismail Riyadi, head of the OJK Department of Financial Literacy, Inclusion and Communications, said the raid on PT MASI’s office was part of an expansion of the investigation into alleged manipulation of material facts involving a brokerage. ‘The raid on the PT MASI office is part of the law enforcement process into alleged criminal acts in the capital markets,’ he said in a press release on Wednesday.

Ismail explained that prior to the raid, the OJK investigators suspected Mirae Asset Sekuritas did not report a related party that received fixed allotment in an initial public offering (IPO). The brokerage is also suspected of submitting an IPO fund use report that did not reflect the actual conditions.

In addition, investigators found alleged circular transactions or in this case ‘pump and dump’ of BEBS shares to benefit certain groups. The price manipulation was estimated to have caused losses of up to Rp 14.5 trillion. Ismail disclosed that the pumping of shares involved transactions among related parties with seven corporate entities and 58 individual nominees, executed by six operators under the control of the suspects. ‘The sequence of transactions is alleged to have caused the BEBS stock price on the regular market to rise by around 7,150 percent,’ he said.