TheJakartaPost

Please Update your browser

Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.

Jakarta Post

Police arrest three for 'swindling hundreds' in property scam

The alleged property fraud dates back to 2016 and involved elaborate promotional schemes to lure potential buyers for the Ciputat Resort Apartment – which does not physically exist.

News Desk (The Jakarta Post)
Premium
Jakarta
Sun, August 25, 2019

Share This Article

Change Size

Police arrest three for 'swindling hundreds' in property scam The Jakarta Police have arrested three relatives who allegedly defrauded at least 455 people of around Rp 30 billion (US$2.1 million) through the fictitious PT MMS (Megakarya) property developer. The elaborate scheme promoted the Ciputat Resort Apartment does not physically exist. (Shutterstock/File)

O

fficers of the Jakarta Police's general crimes unit have arrested three members of a family that ran a property scam that allegedly swindled Rp 30 billion (US$2.1 million) from at least 455 people.

The police arrested the three individuals on July 7 in South Tangerang, Banten. Identified only as AS, KR and PJ, the three have been charged with violating articles 378 and 372 of the Criminal Code on embezzlement and fraud, which carry a maximum punishment of four years in prison. 

Jakarta Police chief Insp. Gen. Gatot Eddy Pramono said that the suspects were believed to have swindled at least 455 people, of whom "only 26 had reported the crime" to the police, he said on Thursday at a press conference, according to a kompas.com report.

Gatot said the scam started in 2016, when AS, KR and PJ founded a property development company registered as PT MMS (Megakarya).

AS was the president director from 2016 to 2017, and later took over sales. KR was president director from 2017 to 2019, while PJ oversaw the entire scheme and collected payments from Megakarya's "customers".

The three produced a brochure on a bogus property development called Ciputat Resort Apartment, with each apartment unit priced  at Rp 150 million.

Megakarya even offered promotional packages and prizes to lure potential buyers, including a sales promotion offering three apartment units for Rp 525 million. It also advertised promotional prizes including a car, motorcycles and precious metal.

to Read Full Story

We accept

TJP - Visa
TJP - Mastercard
TJP - GoPay
{

Your Opinion Counts

Your thoughts matter - share your experiences, suggestions, and any issues you've encountered on The Jakarta Post. We're here to listen.

Enter at least 30 characters
0 / 30

Thank You

Thank you for sharing your thoughts. We appreciate your feedback.