Press Release: Investment Alert Task Force Suspends 14 Business Activities to Protect Public

Oct 23 2017
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SP/3/SWI/2017

PRESS RELEASE

INVESTMENT ALERT TASK FORCE SUSPENDS

14 BUSINESS ACTIVITIES TO PROTECT PUBLIC

Jakarta, October 23, 2017. The Task Force for Handling Alleged Unlawful Acts involving Public Funds Collection and Investment Management (the Investment Alert Task Force) this October suspended unauthorized public funds collection and investment management carried out by 14 entities.

Investment Alert Task Force Chairman Tongam L. Tobing said that their operation was suspended given that the entities did not have any business licenses to offer their products, and the investments they offered could inflict financial losses on the public as they promised unreasonably high yields or profits.

To provide continuous protection for consumers and the public, since October 17, 2017, the Investment Alert Task Force has suspended operation of the following 14 entities:

  1. PT Dunia Coin Digital;
  2. PT Indo Snapdeal;
  3. Questra World/ Questra World Indonesia;
  4. PT Investindo Amazon;
  5. Dinar Dirham Indonesia/ www.dinardirham.com;
  6. Wujudkan Impian Bersama (WIB)/ PT Global Mitra Group;
  7. Ahmad Zulkhairi Associates LLP (AZA)/ www.azafund.com;
  8. PT Mahakarya Sejahtera Indonesia/ PT Multi Sukses Internasional;
  9. PT Azra Fakhri Servistama/ Azrarent.com;
  10. Tractoventure/ Tracto Venture Network Indonesia;
  11. PT Purwa Wacana Tertata/ Share Profit System Coin/ SPS Coin.co;
  12. Komunitas Arisan Mikro Indonesia/K3 Plus;
  13. PT Mandiri Financial/ investasisahammandiri.blogspot.co.id; and
  14. Seven Star International Investment.

The Investment Alert Task Force had summoned the entities to have them clarify their legal status and business activities. PT Indo Snapdeal, Questra World/Questra World Indonesia, PT Investindo Amazon, Dinar Dirham Indonesia/ www.dinardirham.com, Ahmad Zulkhairi Associates LLP (AZA)/www.azafund.com, PT Mahakarya Sejahtera Indonesia/PT Multi Sukses Internasional, PT Azra Fakhri Servistama/Azrarent.com, Tractoventure/Tracto Venture Network Indonesia, PT Purwa Wacana Tertata/Share Profit System Coin/SPSCoin.co, Komunitas Arisan Mikro Indonesia, PT Mandiri Financial/investasisahammandiri.blogspot.co.id and Seven Star International, did not answer the summons to attend a meeting with the Task Force.

  1. PT Dunia Coin Digital's business activities in training and education on Bitcoin, and buying and selling Bitcoin packages, were suspended because the company had no business licenses from competent authorities to do so and these activities might result in financial losses for the public.
  2. PT Indo Snapdeal, which had been offering investment packages and promising weekly yields between 10 and 30 percent, also had their operation suspended. They offered investment packages from IDR 1,000,000 and above (no limit on the maximum value). The company ran its business without any business licenses and put the public at risk of suffering financial losses.  
  3. Questra World/Questra World Indonesia must cease its operation of offering investments that promised passive income of 4 – 7 percent weekly return and active income of 5 – 15 percent monthly profit. The company did not have any business licenses to carry out its business activities. Also, its activities allegedly violated the laws and might cause the public to suffer financial losses.
  4. PT Investindo Amazon had its operation suspended after offering investments in commodity futures trading and claiming investors would reap (fixed income) return of 15 – 25 percent every 15 days. The company offered these investments despite having no licenses to perform futures trading.
  5. Dinar Dirham Indonesia/www.dinardirham.com must stop its business activities that offer Etherium blockchain technology with 8 – 15 percent return in 13 days. The company did not have any business licenses to carry out its business activities. Also, its activities allegedly violated the laws and might cause the public to suffer financial losses.
  6. Wujudkan Impian Bersama (WIB)/ PT Global Mitra Group had its operation suspended by the Investment Alert Task Force owing to its member-get-member modus operandi and promises of 5 – 15 percent return of investment for existing members, for each new member they have recruited.
  7. Ahmad Zulkhairi Associates LLP (AZA)/ www.azafund.com has to stop offering time deposit with monthly interest rates of 30 – 42 percent. The Investment Alert Task Force has issued a statement regarding the unauthorized use of OJK logo by the company.
  8. PT Mahakarya Sejahtera Indonesia/PT Multi Sukses Internasional is a company that focuses on developing, marketing and producing health care, personal care and beauty care products. It carried out its business activities with no business licenses, allegedly violated the laws and its products might result in financial losses for the public.
  9. PT Azra Fakhri Servistama/Azrarent.com has to stop offering car custodian programs because it operated without any business licenses, allegedly violated the laws and hurt the public financially. The custodian programs lasted for three years, at the end of which the cars would be sold and 90 percent of the sale proceeds would go to the owners, while the remaining 10 percent would go to PT Azra Fakhri Servistama/Azrarent.com.
  10. Tractoventure/Tracto Venture Network Indonesia had its operation suspended by the Investment Alert Task Force for offering digital currency called crypto currency under multi-level marketing system although it has never received any licenses from the competent authorities.
  11. PT Purwa Wacana Tertata/Share Profit System Coin/SPSCoin.co had a Bitcoin business based on a profit-sharing system (SPS). PT Purwa Wacana Tertata ran an SPSCoin program for the cryptocurrency. They offered passive income of 1 percent (unconditional) daily profit, a 10-percent referral bonus (no ceiling on bonus amount), and a 10-percent pairing bonus. The company operated without any business licenses, allegedly violated the laws and its offers could cause the public to suffer financial losses.
  12. Komunitas Arisan Mikro Indonesia/K3 Plus must stop hosting social gatherings because the activities were unauthorized, allegedly illegal and harmful to the public.
  13. PT Mandiri Financial/ investasisahammandiri.blogspot.co.id must cease offering investments in shares and promising monthly returns of 10 – 500 percent.  The Investment Alert Task Force has issued a statement regarding the unauthorized use of OJK logo by the company.
  14. Seven Star International Investment has to stop offering investments with return of 53 percent in 18 months as it did not have any business licenses, allegedly violated the laws and might cause the public to suffer financial losses.

Between January and October 2017, the Investment Alert Task Force has made 62 entities cease their operation. The Task Force took such action in order to provide legal assurance to the public that those entities did not have any licenses and their operation might inflict losses on the public.

The Investment Alert Task Force recommends the public to take the following precautions before investing their money:

  1. Make sure the companies that offer investment products have licenses from the competent authorities and the licenses are relevant to their business activities.
  2. Make sure the parties who offer investment products have permits to do so or, are registered as marketing partners.
  3. Make sure that any logo of government agency or institution, which is found in the promotional media, has been listed there in compliance with the laws.

Anyone who finds suspicious investment offers may consult with, or report such offers to OJK Consumer Care by calling 1 500 655 or sending an e-mail to konsumen@ojk.go.id or waspadainvestasi@ojk.go.id.

***

For more information:

Tongam L. Tobing, Investment Alert Task Force Chairman/OJK Investigation Policy and Support Director

Tel: +62 21 2960 0000, E-mail: tongam.tobing@ojk.go.id Website: www.ojk.go.id


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