THE LEGAL PROTECTION TOWARDS INVESTORS FROM INVESTMENT SCAM IN CASE OF PT GOLDEN TRADERS INDONESIA SYARIAH

Abstract

Investment scam in essence is a collection of funds from the public in the form of deposits but packed with investment. One of the modus used in investment scams is by using Ponzi schemes or pyramid schemes. In Indonesia there is a case of PT Golden Traders Indonesia Syariah (PT GTIS) which done investment scam with the sharia labelling. This thesis is based on normative research, therefore it will concept law as a norm consist of positive law. The result of this thesis is that PT GTIS conducts investment scam with Ponzi or multi-level marketing schemes. Legal protection that can be provided by the OJK can be in the form of preventive and repressive actions. Also the existing theory of responsibility can drag the MUI institution to take responsibility in the case of PT GTIS. All material losses from the case of PT GTIS is not the responsibility of the MUI institution but the personal responsibility of the board itself. The customer as a weak party must be more active in choosing financial investments, and The Indonesian Ulema Council (MUI) must be more involved in the occurrence of investment scams, because many sharia-labeled financial services companies carry out investment scams.