On the last week of September 2017, a number of residents from Bandung, West Java, who became members and associates of Talk Fusion, a company that provides online communication services with Multi Level Marketing system, expressed their unrest because they feel deceived by the Company. Most claimed to experience a loss that is not small. Responding to this complaint, the Financial Services Authority (OJK) announced that Talk Fusion activities have actually been suspended since early 2017. While at the same time, the Investment Coordinating Board (BKPM) issued a principal license for the Company to conduct its business in Indonesia. What really happened?

Last year, the Jakarta Metropolitan Police named one Indra Pontas Simatupang a suspect of fraud. At the time, Indra was a member of the House of Representatives from PDI-P. The case drew attention because of Indra’s modus operandi and the amount of losses caused by the crime. Last week, the prosecutor’s office escalated the case to the Central Jakarta District Court.

The trial of the two officials of the Ministry of Villages, Development of Disadvantaged Regions, and Transmigration (Kemendes), who was caught after bribing the auditors of the Supreme Audit Agency (BPK), continues. The trial has uncovered some interesting information. On October 4, 2017, however, one of the suspects changed his account of what had happened.

On February 7, 2017 the Corruption Eradication Commission (KPK) announced a new investigation into the allegation of corruption involving the Immigration Attache of the Indonesian Embassy in Kuala Lumpur, Malaysia. The KPK told the press that they had named one suspect. The trial of the suspect went forward, with the latest hearing held on October 4, 2017.

Directorate General of Taxation at ministry of finance claimed of having secured identities of those implicated in the suspicious transfer of US$1.4 billion funds from Standard Chartered Bank in Guernsey to London and later on to Singapore. Simultaneous investigations in UK and Singapore have immediately become a political commodity in Indonesia, especially because the so-called links with the military.

The Corruption Eradication Commission (KPK) has reportedly arrested Aditya Anugrah Moha, lawmaker from Golkar Party in the House Commission XI (overseeing banking, insurance, among others), in a sting operation alongside Sudiwardono, chief justice at North Sulawesi High Court.

Muhammad Santoso, the former Registrar of the Central Jakarta District Court who was caught in a Sting Operation last year, was found guilty of receiving bribes. The Corruption Eradication Commission (KPK), however, was not happy with the verdict that they filed for an appeal. The effort goes on to the stage of cassation where the Supreme Court aggravated Santoso’s sentences.

PT Inovisi Infracom Tbk (INVS), whose business include ICT and coal mining, has been suspended from trading in the Indonesia Stock Exchange (IDX) for several years. The Company last updated their financial report back in 2014. On September 22, 2017, the IDX finally announced that INVS would be delisted. In response, INVS made several announcements and information disclosure on the Company’s situation and filed for objection on the delisting on October 3, 2017.

PT Intan Baruprana Finance Tbk (IBFN), a Jakarta-based finance company, is facing a lawsuit for Suspension of Debts Payment (PKPU) filed by one of its creditors. There is no detailed information on the reasons for the lawsuit or the dispute, but IBFN conveyed in the disclosure of information on the Indonesia Stock Exchange that this lawsuit has not affected the Company’s operations.