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OJK intensifies investigation into fake bond sales
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This picture shows the front of the Financial Services Authority (OJK) building. (KONTAN/*)
The Financial Services Authority (OJK) has intensified its investigation into fake government bond sales by broker EP Larasati.
Posing as a reliable securities "sales manager", Larasati fooled high net worth investors to buy the FR0035 bond that turned out to be fake. OJK's capital market supervision director Nurhaida told thejakartapost.com that the supervision body had finished the examination and would continue the investigation process.
"The case file is being delivered to the chairman [Muliaman Hadad]," Nurhaida told thejakartapost.com at the OJK building in Jakarta on Friday.
Larasati's victims were usually high net worth individuals who lived in regions like Makassar and Surabaya. The OJK is currently looking to see if there were any corporations that were also fooled.
"We are seeing if there were any corporate victims," chairman Muliaman Hadad said.
The latest calculation of the loss sets the figure at around Rp 150 billion (US$11.19 million), however this number could be larger. It is estimated that there are victims who have not disclosed their numbers yet. (bbn)
