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Jakarta Post

OJK shuts down Jouska, two other investment firms

  • Riska Rahman

    Jakarta

Jakarta   /   Tue, July 28 2020   /  01:00 am
A visitor walks past a giant screen that displays information of the movement of stock prices at Indonesia Stock Exchange (IDX), Jakarta, on Friday, March 13, 2020. IHSG is closed with 11,823 points (0.24 percent) to 4,907.571 rise after experiencing trading halt twice.(JP/Seto Wardhana)

The Financial Services Authority (OJK) has instructed financial advisory company PT Jouska Financial Indonesia to cease operations over allegations of illegal stock brokerage and investment mismanagement. The OJK’s Investment Alert Task Force also shut down PT Mahesa Strategis Indonesia and PT Amarta Investa Indonesia, which are alleged to have provided investment management services and financial advice without proper licenses. It has also blocked all three companies’ websites, applications and social media accounts through the Communications and Information Ministry. The decision was made after the task force summoned and questioned Jouska CEO and founder Aakar Abyasa Fidzuno following complaints on social media from its clients. “We’ve asked PT Jouska to settle the disputes with its clients transparently and invite the customers to settle the issues,&r...