The Financial Services Authority (OJK) and the Polri Criminal Investigation Agency (Bareskrim Polri) searched the securities office of PT T MASI in the Treasury Tower Building, District 8, SCBD, Kebayoran Lama, South Jakarta.

progresifjaya.co.id, JAKARTA – The securities office of PT MASI in the Treasury Tower Building, District 8, SCBD, Kebayoran Lama, South Jakarta, was raided by the Financial Services Authority (OJK) and the Polri Criminal Investigation Agency (Bareskrim) on Wednesday, March 4, 2026. This raid was part of the investigation into alleged initial public offering (IPO) manipulation and alleged capital market violations.

The OJK’s Executive Director of Financial Services Sector Investigation, Daniel Bolly Hyronimus Tifaona, stated in an official statement, that the raid was conducted to gather and strengthen evidence in the ongoing case.

“We, from the OJK and the Bareskrim Polri, conducted an investigative search, including a search. The search was conducted at PT MA. The Bareskrim assisted us throughout the process,” Daniel told the media in the SCBD area of Jakarta.

He stated, that this case involves ASS, the beneficial owner of PT BEBS, and MWK, the former Director of Investment Banking at PT MASI, and also implicates the PT MASI corporation. The investigation revealed that the corporation is suspected of engaging in practices that violate capital market laws.

According to Daniel, the methods used in this case include insider trading, IPO manipulation, and wash sales that occurred between 2020 and 2022. These practices are considered to violate the principle of fairness in capital market transactions.

The OJK has named ASS and MWK as suspects. Both are suspected of violating Article 104 in conjunction with Article 90, subsidiary to Article 107 of Law Number 8 of 1995 concerning Capital Markets. The case files against the two suspects have been completed and sent to the prosecutor’s office, awaiting the P-21 (P-21) hearing.

“We have completed the files for the two suspects and sent them to the prosecutor’s office. We are currently awaiting the P-21,” Daniel explained.

In addition to criminal proceedings against the suspects, the Financial Services Authority (OJK) has also frozen approximately 2 billion shares worth approximately Rp14,5 trillion. This value is calculated based on the share price of approximately Rp7.000 per share for the period 2021 to 2023. These shares are temporarily untradable.

Regarding the evidence, Daniel also stated that most of it consists of documents and data storage devices such as USB sticks. All of this evidence will be further sorted at the investigator’s office.

“We will sort it out at the office. We will return anything that is no longer needed. There are no assets; the majority are documents and data storage devices,” he added.

The OJK, along with the Bareskrim Polri, also reaffirmed their commitment to resolving this case professionally in accordance with applicable law. This commitment is an effort to maintain the integrity and trust in the Indonesian capital market. (Bembo)