January 18, 2021

Police to trace investment fraud evidence in Hong Kong, Switzerland

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2016_08_02_9251_1470120727._largeBy Anton Hermansyah From The Jakarta Post

The National Police’s Criminal Investigation Department (Bareskrim) is set to trace evidence in Hong Kong and Switzerland in an investigation into alleged investment fraud involving Indonesian businessman Harun Abidin and investment company Cedrus Investment Ltd .

The investigation was prompted by Harun’s recent report against Hong Kong-based Cedrus Investment Ltd. and its owner, Swiss citizen , to Bareskrim for alleged investment fraud in May. The investment firm was commissioned to manage US$4.2 million worth of stocks owned by PT Cakra Mineral with Harun’s consent in January 2015. However, the firm allegedly transferred some of the stocks to other people, causing an estimated loss of $854,000.

“We have filed mutual legal assistance (MLA) requests to both countries,” National Police spokesman Boy Rafli Amar told thejakartapost.com in a recent interview.

(Read also : Cedrus case not fraud, but failed debt payment: Lawyer)

In the MLA request letters sent at the end of July, the police asked the Swiss and Hong Kong governments to provide information on Rani Tarek Jarkas’ identity and legal files on Cedrus Investment Ltd.

Apart from Hong Kong, Cedrus Investment Ltd. has branch offices in the Cayman Island, China and . In October 2015, the company recruited former Energy and Mineral Resources Ministry coal and mineral mining director Raden Sukhyar as its managing director for commodity and natural resources. To date, Cedrus Investment Ltd.’s Indonesian branch office could not be contacted to confirm the matter. (ebf)

IMAGE: All set — National Police spokesman Boy Rafli Amar speaks at a press conference in Jakarta recently. The National Police’s Criminal Investigation Department (Bareskrim) is investigating alleged investment fraud involving Indonesian businessman Harun Abidin and investment company Cedrus Investment Ltd.(Tempo/-)

For more on this story go to: http://www.thejakartapost.com/news/2016/08/02/police-to-trace-investment-fraud-evidence-in-hong-kong-switzerland.html

See also Rani T. Jarkas (Review of Disciplinary Proceedings) at: https://www.sec.gov/litigation/opinions/2016/34-77503.pdf

See also:

Cayman-based fraudster banned from US securities industry

fraudster Rani Jarkas – whose dishonest conduct and that of his attorney, Michael Alberga, was previously exposed by OffshoreAlert – has been barred from the securities industry

at: http://www.offshorealert.com/rani-jarkas-banned-from-us-securities-industry.aspx

Indonesia police investigate Cayman investment boss Rani Jarkas for alleged fraud

Police in Indonesia are conducting a fraud, embezzlement and money laundering investigation into Rani Jarkas, the scandal-plagued owner of Cayman Islands-based investment group Cedrus Investments.

at: http://www.offshorealert.com/rani-jarkas-investigated-for-fraud-in-indonesia.aspx

Scandal-plagued, debt-ridden U. S. securities broker moves business to Cayman

A securities broker with a long history of complaints for dishonesty from regulators, customers and former employees in the United States has moved his operations to the Cayman Islands, leaving behind substantial unpaid corporate and personal debt.

Rani Tarek Jarkas, 38, closed down Delaware-domiciled, San Francisco-based Global Crown Capital LLC last year after nearly eight years in business and moved to Grand Cayman, where he now operates GC Research Ltd. and Cedrus Investments Ltd., which were formed in Cayman on October 31, 2008 and January 30, 2009, respectively.

For more: http://www.offshorealert.com/rani-jarkas-cedrus-investments-cayman-islands.aspx

 

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