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Jakarta –
Indonesia’s National Police criminal Investigation Unit (Bareskrim Polri) is investigating potential criminal activity linked to the sharp decline of the Indonesia Stock Exchange Composite Index (IHSG) on Wednesday and Thursday, January 28-29, 2026.The investigation focuses on potential market manipulation and “goreng saham” (stock manipulation) practices.
Jeffrey Hendrik, Director of Progress at the Indonesia Stock Exchange (IDX), expressed support for the legal process aimed at combating stock manipulation. He stated that any manipulative activity constitutes a violation of capital market regulations.
“The Exchange always supports law enforcement efforts,” hendrik told reporters at the IDX building in Jakarta on Sunday, February 1, 2026.
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Hendrik clarified that market manipulation does not target specific groups, emphasizing that anyone involved in manipulating stock prices is committing a capital market crime.
“Market manipulation doesn’t focus on particular groups. However, anyone who manipulates stock prices in the market is committing a capital market offense,” he stated.
Previously, Bareskrim Polri announced it would investigate potential criminal elements related to the alleged “goreng saham” activity. This investigation runs parallel to ongoing investigations into similar stock manipulation cases.
Brig. Gen. Ade Safri Simanjuntak, Director of Special Economic Crimes at Bareskrim Polri, cited the investigation of Junaedi, Director of PT Multi Makmur lemindo, and Mugi Bayu, former Head of Company Evaluation