Jakarta. The National Police on Friday named 14 suspects in the ongoing investigation into pyramid scheme-style investment app DNA Pro after thousands of users reported financial losses totaling Rp 551 billion ($38 million).
DNA Pro was one of the so-called trading robots taken down in a recent government crackdown on phony investment apps.
“There are at least 3,621 victims who have reported to the National Police Headquarters with a total loss of Rp 551.7 billion,” Special Economic Crime Director Brig. Gen. Whisnu Hermawan told a news conference in Jakarta.
He said 11 suspects are already in custody while three others remain at large.
“We believe that the three fugitives have fled to a foreign country,” he added.
The three are identified as DNA Pro’s co-founders Verawati and Devinata Gunawan and business development director Daniel Zii aka Fauzi.
Police have been investigating the suspected fraud since January when they decided to take down the app.
Whisnu said authorities have frozen 64 bank accounts with links to DNA Pro and a combined deposit of Rp 105.5 billion, seized Rp 112.5 billion in banknotes of various denominations, and confiscated 20 kilograms of gold and 14 luxury cars.
An unspecified number of properties have also been sealed during the police investigation.
“We don’t stop there because investigators and their colleagues from the [anti-money laundering agency] PPATK continue to trace assets here and abroad,” Whisnu said.
The officer added that DNA Pro has committed to “manipulative investment” without a proper trading mechanism and any government license.
All the 11 suspects in custody including president director Daniel Abe were presented at the news conference.
Daniel offered an apology to users and colleagues but argued that the initial idea was not to develop a pyramid scheme investment app.
“It grew so rapidly in terms of [the number of] users while our system was not fully ready yet that it developed into a pyramid scheme,” Daniel said.
Other suspects are identified as Rudi Kusuma, Robby Setiadi, Dedi Tumiadi, Yosua Trisutrisno, Franky Yulianto, Russel, Jerry Gunandar, Stefanus Richard, Hans Andre, and Muhammad Asad.
They could face a sentence of up to 20 years in prison if convicted of financial scams.
The app offered big investment returns and even higher commissions if users could bring new signups. It hired celebrities and prominent people to convince new users.
Actress Una Astari Thamrin once spoke highly of the app but last month she claimed that she too was a victim after being interrogated by police.
Una was promised six Honda cars in return for a certain level of investment and a certain number of new recruits in DNA Pro, a lawyer for the actress said.
“She and her family fall victims to DNA Pro because she has invested Rp 1.5 billion but could only withdraw Rp 603 million,” Yafet Rissy said.
The lawyer claimed that Una wasn’t involved in the DNA Pro management although she was hired to appear in promotion programs on three occasions.
The 19th Ritossa Family Office Investment Summit in Monaco Celebrates "Connecting Minds & Investing for a Better Future" – Yahoo Finance
MONACO, July 1, 2022 /PRNewswire/ — The 19th Ritossa Family Office Investment Summit, held under the High Patronage of H.S.H. Prince Albert II of Monaco, brought together dignitaries of the world’s leading families this week to discuss how to invest for a better future.
Global leaders, entrepreneurs, prestigious family offices, private investors, Sheikhs, royal families, and leading businesses from 55+ countries representing more than $4.5 trillion convened with a powerful sense of purpose. The closed-door event’s theme “Connecting Minds & Investing for a Better Future” featured discussion and debate regarding how to make our world a better place. Previous Summits have raised $2.8US billion in investments for leading global start-ups, entrepreneurs, funds, and philanthropic endeavors and early indications are that the Monaco event will be a similar great success.
“Global family offices are committed to investing for the greater good of mankind and believe that those who wield economic power must do everything within their power to serve as a pioneering global forum for action. I’m incredibly grateful that the Summit was held under the High Patronage of H.S.H. Prince Albert II of Monaco and deeply appreciate H.R.H. Prince Michel de Yougoslavie, H.R.H. Prince AbdulAziz Bin Faisal AlSaud, and our Summit Chairman – Markus Lehner, as well as every member of our “family of family offices,” and all the entrepreneurs who attended and contributed thought leadership insights,” said Sir Anthony Ritossa, Chairman of Ritossa Family Office & Host of Ritossa Global Family Office Investment Summits, UAE.
“It is an honour and a pleasure to be the 19th Ritossa Family Office Investment Summit Grand Ambassador in Monaco. I have taken part in many events in the past years and have always been amazed at the quality of the participants and at the wealth of information that was circulated,” said H.R.H. Prince Michel de Yougoslavie, Grandson of King Umberto of Italy and Prince Paul of Yugoslavia, Monaco.
“Recent times have changed everyone’s life faster than ever before because our world has changed from one moment to another. Sir Anthony is guiding his family office conferences best through these times, and that’s why they are the world’s No 1. summits in all aspects. Therefore, I was even more delighted to serve again as the Chairman of the 19th Ritossa Family Office Investment Summit in Monaco,” said Markus Lehner, Chairman of the 19th Ritossa Family Office Investment Summit, Principal of the Markus Lehner Organisation, and Founder of Lehner Investments, Monaco.
Key discussion points at the Summit included:
Monaco’s Unique Economy with a Focus on its World-Famous Financial Marketplace
Under the expert leadership of His Serene Highness Prince Albert II, Monaco is thriving as an international financial marketplace with strong credit dynamics, new regulations for residency, and an efficient platform for estate planning. Among its advantages are its lack of debt, balanced budget, favorable tax structures, popularity for entrepreneurs, strong private banks, and support of family offices.
Fighting our Climate Crisis, Today
As part of the quest to make the world a better place and an ocean that’s part of the planet we call home, there are new commercially viable processes for the cultivation of micro algae for biofuels and related carbon credits. Its goal is to make net-zero emissions goals a reality and it has the partnerships in place to drive change at a rapid pace.
Family Office Investor Insights
When investing in today’s dynamic environment, attendees agreed that it’s important to be able to navigate the political climate. We are deep into a geopolitical recession which will last longer than an economic recession. Although we are on an unavoidable path, there are significant investment opportunities that hold the promise of outsized future returns, including areas such as technology. Additionally, infrastructure is a hedge against inflation, Being nimble is essential since markets have a short memory and what is happening now is what matters.
Investment Strategies in the Web 3.0 Era
The time now to invest in the next generation of cryptocurrency and its long-term benefits are evident across many industries, including real estate, gaming, healthcare, among others. The combined valuation of cryptocurrencies has reached US$3.2T but many coins are volatile and are not backed by assets. Unicoin is a next generation of cryptocurrency that is dividend paying and asset backed. Blockchain is equalizing the world in that it can be used to help humanity. Ultimately, finance is about trust.
Legacy & Socially Responsible Investing
Family offices must align their investments with their values. Investing in impactful start-ups that help improve lives is important as is taking into consideration the United Nations Sustainability Goals. We all have choices to make and possess the ability to have a positive impact at some level. Projects related to water desalinization, renewable energy, sustainable housing, and climate change are examples where investment dollars have a needed impact.
AI & Machine Learning
The U.S. leads China in areas such as enterprise software but China remains ahead in speech recognition and industrial robots. A cornerstone of artificial intelligence is the fact that the more intelligent you are the better you can make decisions. AI can write rules that represent the truth. AI makes life easier and facilitates humanity. It is faster and enables us to identify the best way to do things across industries – at fraction of a second.
Family Offices – The Eternal Flame
Challenges may arise when family members do not see eye-to-eye yet certain truths remain the same throughout the years. Human capital lasts over generations and education is critical. We must give the next generation responsibility and let them earn and build wealth independently. Leading family offices stress the importance of investing in education for the next generation. Ambition, leadership, governance, and discipline are critical to success. It’s important to be flexible, take a long-term view, understand what you’re investing in, have a vision, and invest in great founders dedicated to building their business.
How Champions, Invest Like Champions
An Ultra Exclusive Fireside Chat entitled “How Champions, Invest Like Champions” featured racing legends Mika Hakkinen (The Flying Finn), a 2-Time F1 Champion from Finland; Juan Pablo Montoya (JPM), a F1 Legend from Colombia; and Sebastian Montoya, a Rising Star, FREC from Colombia. Among the areas in which they’re investing are the metaverse, online gaming, and cryptocurrency. In all aspects of life, they embrace the concept of teamwork, looking at the world in new ways, learning, and understanding. Importantly, F1 is seeking to make next generation drivers carbon neutral.
Spotlight on Iconic Global Family Office Investors & Co-Investments
Leading families believe in following smart investors and view relationships as important. Focus areas for investment include biotech, fintech, space, India-only, logistics, funds such as activist strategies, and secondaries. Patience is key, a long-term horizon is advisable, and innovative thinking is a trademark of a great manager. Because family offices have on-the-ground, local knowledge, they are valuable in terms of presenting opportunities. It’s best to seek partnerships with those you have synergy with and who have skin in the game as an investor. Trust is a Number One priority.
Increased Giving for a Better Tomorrow
Trends include family offices’ tireless generosity in challenging times, increased sophistication, and the next generation leading the way. Areas of giving include children, healthcare, women’s empowerment, sustainable economy, economic development, education, refugee support, and foster homes. Families agree that philanthropy is a privilege and not an obligation. We must be careful to use philanthropy to create a better community. While historically there was separation between business and philanthropy, we no longer need to make a choice as the two intersect. Today, it is possible to be economically profitable while making a difference.
For more details on upcoming invitation-only Global Family Office Investment Summits, please visit www.RitossaFamilySummits.com
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SOURCE Ritossa Family Office
Putin Offers Russian Railways Investment in New Indonesia Capital – Financial Post
President Vladimir Putin offered to have Russian Railways invest in Indonesia’s new capital, in a sign of warming ties with Southeast Asia’s biggest economy as the US and its allies seek to isolate Moscow.
(Bloomberg) — President Vladimir Putin offered to have Russian Railways invest in Indonesia’s new capital, in a sign of warming ties with Southeast Asia’s biggest economy as the US and its allies seek to isolate Moscow.
Putin said Moscow could take part in President Joko Widodo’s plan to move Indonesia’s capital to the island of Kalimantan from Jakarta, according to a statement by the Russian Embassy in the country. He made the comments during Jokowi’s visit to Moscow on Thursday, it said.
Nusantara, as the new capital will be called, is set to begin construction in August after the pandemic stalled its development. Jokowi has courted investors including Abu Dhabi and Taiwan’s Foxconn Technology Group to help build a renewable energy-powered city from scratch.
Russian energy companies are also keen to operate in Indonesia, especially in developing nuclear power, Putin added. Atomic energy is a key part of Indonesia’s net-zero emissions plan.
Indonesia has come under pressure by the US and other countries to prevent Putin from joining the Group of 20 summit, which is set to take place in Bali. The Russian leader made no comment on whether he’ll attend in person.
Island's largest investment in affordable housing taking shape in Saanich | BC Gov News – BC Gov News
Ahmed Hussen, federal Minister of Housing and Diversity and Inclusion –
“Everyone deserves a safe place to call home. Our government remains committed to working with our partners to ensure our seniors have access to housing that meets their needs. Today’s announcement is another important step in the right direction and will go a long way to support families in Saanich. This is the National Housing Strategy at work.”
Parm Bains, Member of Parliament for Steveston–Richmond East –
“This investment from the National Housing Co-investment Fund is improving the economic and social well-being of the individuals, seniors and families who will soon call Nigel House their home and will make Saanich a better place to live. When people have a secure and stable home, they gain the confidence they need to succeed and fulfill their potential.”
Fred Haynes, mayor, District of Saanich –
“It’s amazing what can happen when multiple stakeholders, including our local community associations, take a collaborative and proactive approach to challenges like housing. This project caters to a wide range of housing needs in Saanich and I look forward to seeing how it will enhance our community over the years to come.”
Derrick Bernardo, president and CEO, Broadmead Care –
“Broadmead Care has had a dream for years to build a new Nigel House. We are excited to see housing, health and social services coming together to make this dream a reality and more. The new Nigel House will be part of a beautiful community campus of care with a focus on aging in place, research and innovation.”
Geoffrey Ewert, CEO, Garth Homer Society –
“The Nigel Valley Project is a remarkable collaborative effort with the goal of meeting the needs of our diverse community. What we are creating is more than just housing – we are creating an inclusive community where people from all walks of life feel a true sense of belonging and have a place that feels like home.”
Bruce Homer, board chair, Garth Homer Foundation –
“The Nigel Valley project amplifies what can be achieved when stakeholders collaborate for the good of the community as a whole. Garth Homer is proud to be a part of this transformative initiative.”
Virginia Holden, executive director, Greater Victoria Housing Society –
“Greater Victoria Housing Society is really thrilled that we can increase the amount of affordable rental homes available in Saanich. We are very grateful to be a part of this strong partnership with the Province and other community non-profit organizations that will result in a transformation of this neighbourhood, and create a community where everyone feels at home.”
Chris Forester, executive director, Island Community Mental Health (ICMH) –
“Providing housing and recovery-oriented supports to people living with mental health challenges is at the heart of our work. ICMH is proud to partner in bringing 800 homes and the creation of an inclusive community to the Nigel Valley to serve so many of those in need.”
The 19th Ritossa Family Office Investment Summit in Monaco Celebrates "Connecting Minds & Investing for a Better Future" – Yahoo Finance
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