JAKARTA, Legal Literacy — Investigators from the Directorate of Special Economic Crimes (Dittipideksus) National Police Criminal Investigation Department raided the office of PT Shinhan Sekuritas Indonesia in the area of South Jakarta, Tuesday (3/2/2026). The search was conducted in the investigation of alleged criminal acts in the capital market sector, as well as the tracing of alleged money laundering crimes (TPPU).

Director of Dittipideksus Brigadier General Ade Safri Simanjuntak confirmed the search. He said the investigators' actions were related to a capital market case being handled.

Container boxes and printers were brought in

Monitoring by a number of media at the location showed investigators carrying several container boxes and devices such as printers when entering the office building. On some of the boxes, labels related to evidence of capital market crimes and TPPU were visible.

In another report, the search was said to have taken place at Equity Tower SCBD area.

Linked to the IPO of PT MML (stock code PIPA)

Ade Safri explained that investigators were investigating the connection between the search and the initial public offering (IPO) process of PT Multi Makmur Lemindo Tbk (PT MML) with the stock code PIPA. He mentioned that PT Shinhan Sekuritas Indonesia it acted as an underwriter when PT MML was listed on the stock exchange.

The police also mentioned that PT MML's proceeds at the time of the IPO amounted to IDR 97 billion.

According to investigators, this search is a series of developments from a capital market crime case that had previously been processed to a final and binding legal decision. In the construction of the investigation, there are a total of five suspects, with two people said to have the status of convicts, including the Director of PT MML named Junaedi and a former official of the evaluation/monitoring unit of listed companies at Indonesia Stock ExchangeThe other three suspects are reportedly still being processed.

Investigators also stated that they found the fact that PT MML was "unfit" to be listed on the stock exchange because the asset valuation did not meet the requirements—this claim was conveyed as part of the ongoing investigation results.

Police: focus on evidence

On the other hand, the police emphasized that the search was carried out to find and collect evidence to strengthen the proof of the case. Several reports also mentioned that investigators are investigating alleged practices such as wash trading and/or insider trading in the capital market.