“RAISING FUNDS FROM THE PUBLIC IN THE FORM OF DEPOSITS WITHOUT A BUSINESS LICENSE FROM BANK INDONESIA LEADERS AND THE TRANSFER OF FUNDS TO OTHER
COMPANIES AND PERSONAL ACCOUNTS CONSTITUTE FRAUD AND CRIMINAL ACTIONS”
Case resume:
The Defendant, as the administrator of the CKGP Cooperative, has offered investment products to the public with the lure of high interest, but, in
reality, the public’s money was used to finance other business activities of the Defendants.
The Defendant objected to the judge’s sentence and filed an appeal with one of the reasons “There was a delay in payment of the share of profits,
and the return of partners’ funds had been resolved through the peace process in the PKPU at the Commercial Court at the Central Jakarta District Court which was strengthened by the Peace Decision (Homologation Decision) 21/ Pdt. Sus/PKPU/2014/PN.NIAGAJKT.PST.
Judges’ Decision:
The defendant was proven to have jointly committed the crime of collecting funds from the public in the form of deposits without a business permit
for the leadership of Bank Indonesia and fraud.
Judges’ Consideration:
Bank Indonesia does not permit the CKGP Cooperative to collect funds from the public in the form of equity participation;
Defendant used the name Cooperative, but formally and materially, its business activity is not in the form of a cooperative;
Defendant used the Cooperative modus operandi, but in fact, their business activities were MLM to take public funds unlawfully;
The nature and evil intentions of the Defendant can be identified through the transfer of funds to several companies and several personal accounts
of the Defendant.
Decision No. 173 K/Pid.Sus/2016
Source:
Article entitled: “Bankruptcy Confiscation vs. Criminal Confiscation, A Debate That Never Ends,” by Aji Prasetyo, Hukumonline.com, 12 January 2023.
Best regards
Fredrik J. Pinakunary