Inp.polri.go.id - Jakarta.  The Indonesian National Police (INP)'s Special Economic Crimes Directorate has exposed a large-scale market manipulation scheme orchestrated by PT Narada Asset Management. 

Authorities revealed on Tuesday (3/2/2026) that the firm allegedly used a network of affiliates and nominees to control underlying assets in their mutual fund products, creating an artificial demand that distorted market prices.

"The patterns were designed to create a false appearance of stock prices, ensuring that the market value did not reflect actual fundamental values," said Brigadier General Ade Safri Simanjuntak, as quoted by antaranews.com.

Capital market experts assisting the investigation confirmed that these inter-party transactions misled investors and generated "artificial demand." In response, the police have named two key suspects, identified as MAW, the President Commissioner of PT Narada Asset Management, and DV, the President Director of PT Narada Adikara Indonesia,. 

Furthermore, investigators have frozen and seized securities sub-accounts valued at approximately Rp 207 billion (as of October 2025) as part of the ongoing probe into market distortion and portfolio falsification.

(mg/inp/pr/rs)