Jakarta: Fraud allegations at Sarijaya securities company which led to the arrest of one of its executive was estimated to have involve around Rp 240 billion of investments.
Head of the Capital Market and Financial Institutions Supervisory Agency Fuad Rahmany said the troubled investments were not as big as the case of Century Bank, “however Sarijaya have thousands of clients, therefore we take a serious look on the matter.”
Fuad said the case of Sarijaya “would not spark economic impact as the amount of troubled investments were relatively not high, but the fraud allegations could actually inflict systematic impact on the market.
The crime according to Fuad was not only a form financial crime but also a form of general crime. The agency is handing the process to return Sarijaya clients investment to the police. The suspect according to the agency have taken investment decisions using clients money without authorization from the company's clients. The agency said it could not determine on when the conduct began.
Scores of clients of Sarijaya gathered at the company's office at Permata Tower I on Tuesday noon. Hasbi Sukaton, corporate secretay Sarijaya said the company manages around Rp 20 trillion of investments made by 8.700 clients as of January 6th 2009.
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