The Facts of the Quotex Case, Illegal Trading Leads to the Arrest of Crazy Rich Bandung

Uzone.id – The Quotex application and trading platform became a hot topic of discussion after Crazy Rich from Bandung, Doni Salmanan, was named a suspect in a money laundering fraud case through this application.

Doni Salmanan was arrested and named a suspect on Tuesday (08/03/2022) and was immediately detained by the Criminal Investigation Department of the Police for fraud under the guise of trading investment.

To find out the facts about Crazy Rich Doni Salmanan who was a suspect and the Quotex application, let’s look at the following points.

What is Quotex?

Quotex is an application that works almost the same way as Binomo, which was founded in 2020. It is said that this platform has a license from the International Financial Market Relation Regulation Center (IFMRRC).

This application is under the auspices of Awesome Ltd which later found out that the trading license had expired.

The status of this website or platform is illegal and prohibited by CoFTRA. This binary options platform is a trading instrument that requires traders to predict the price of an asset within a certain time.

Also read: ‘Vicious Circle’ Trading Robots, MLM and Ponzi Schemes

Its illegal status makes this platform not in the App Store and not in developed countries. In Indonesia, apart from being unregistered and prohibited by CoFTRA, Quotex is also not registered with the OJK.

Even so, this platform has been used by more than 4 million people in Indonesia and in several other countries.

Who is Doni Salmanan?

Well, Doni Salmanan is a crazy rich from Bandung and an affiliate in the Quotex trading platform. He is aggressively promoting the Quotex platform on his personal YouTube account.

He also claims that his success and wealth stems from the investments he made on the platform. Then, he invites his followers to join Quotex so they can get benefits like himself.

The invitation managed to make him have tens of thousands of members on Telegram. The Bareskrim Polri stated that Doni Salmanan’s members on Telegram reached 25,000 and were actively following instructions from the affiliate.

The more people who join, the more money the affiliate will get. Not to mention that his trading instructions on YouTube are considered a trap for his victims.

Doni’s profits reach 80 percent of the loss of his members, imagine how much money he gets when added to his members who reach tens of thousands if they ‘lose’.

Also read: ‘Don’t Blame Trading Robots, The Developers Are Evil’

Quotex itself promises a bonus of 10 percent for users who deposit more than USD 50 or around IDR 700 thousand, 20 percent for those who deposit USD 100 or IDR 1.4 million, 30 percent for those who deposit more than USD 150 and 35 percent for those who deposit more than USD 300.

What makes Doni Salmanan a suspect?

Doni Salmanan has been named a suspect on suspicion of fraudulent investment fraud and money laundering (TPPU). He is threatened with being charged with multiple layers of articles for committing money laundering, fraud, the ITE Law and the Criminal Code, which carries the threat of imprisonment for around 20 years.

Doni was questioned for 13 hours and asked 90 questions during the examination by the Criminal Investigation Police of the Indonesian National Police. Apart from being detained, the police also managed to confiscate items related to the Quotex trading case.

The items are an iPhone 13 cellphone, a YouTube account ‘King Salmanan’, an email account connected to his YouTube account and his Quotex account.

Several bundles of account mutations, transaction evidence and flash drives were also confiscated by the authorities for further inspection.

The police are developing an investigation into this case, the flow of funds related to the Quotex case will be investigated by Doni’s family.

Apart from Doni Salmanan, previously there was Indra Kenz, who was previously involved in the Binomo trading platform case which caused him to be named a suspect.

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