Case of Piercing The Corporate Veil

Topics: Corporation, Investment, Stock market Pages: 9 (2229 words) Published: May 8, 2014

Case of Piercing The Corporate Veil
PT Peresseia Mazekadwisapta Abadi (Primaz)

Background
PT Peresseia Mazekadwisapta Abadi (Primaz) located at Jalan Jenderal Suprapto Komplek Ruko Grosir Cempaka Mas Blok F 14, Jakarta Pusat is a company engaged in trading Gold Bars (Precious Metals), which buys and sells Gold Bars (Precious Metals) 24 carat (999 , 9) with a program of regular discounts and warranty repurchase as the initial purchase price. PT Peresseia Mazekadwisapta Abadi (Primaz) offers gold investment with a profit-sharing system in 2011. PT Peresseia Mazekadwisapta Abadi (Primaz) offers two investment schemes, namely physical gold trading and gold pawn. Primaz fix the price of Rp 700,000 per gram of gold. With a minimum purchase of 100 grams, Primaz will pay a yield of 2.5% per month for six months tenor. PT Peresseia Mazekadwisapta Abadi (Primaz) is a trade company best and reliable gold bullion as well as included in the category "Big Five" companies in Indonesia in the field of gold bullion trading. PT Peresseia Mazekadwisapta Abadi (Primaz) also incorporated in PPE (Gold Trade Association) PT Peresseia Mazekadwisapta Abadi (Primaz) stand and thrive thanks to the enthusiasm and confidence are built with the buyers or business partners partner, so it can move dynamically in the gold trading market challenges in the future. Problem comes up at 18 April 2013, when a number of clients of investment firms headquartered in Jalan Jenderal Suprapto Komplek Ruko Grosir Cempaka Mas Blok F 14, Jakarta Pusat is already no longer receive a bonus of 2.5% per month as promised PT Peresseia Mazekadwisapta Abadi (Primaz). Customers also do not get clarity on the fate of their investment funds. Dozens of customers who come to the office be disappointed. Andrew, PT Peresseia Mazekadwisapta Abadi (Primaz) customers, to bite the fingers after since Friday (26/4) morning until the afternoon, the wait was not getting any results. Not a single person from the party who want to see PT Peresseia Mazekadwisapta Abadi (Primaz) customers. "I got Rp 300 million," said Andreas who claimed to have invested in PT Peresseia Mazekadwisapta Abadi (Primaz) year ago. Asep, not his real name, nor fret over the safety of its investment funds in PT Peresseia Mazekadwisapta Abadi (Primaz). Because since mid-April, customers from Bandung is not received the result of an investment of Rp 420 million. Not only that, the interest payments that should have received a contract extension at the beginning of the contract was also not given anymore . He invests in PT Peresseia Mazekadwisapta Abadi (Primaz) since December 2012. Marketing PT Peresseia Mazekadwisapta Abadi (Primaz) those questioned would not explain why PT Peresseia Mazekadwisapta Abadi (Primaz) not want to run their obligations anymor. "They even said that all clients also suffer like me," said Asep. Lewis, one of the agents PT Peresseia Mazekadwisapta Abadi (Primaz) originating from Jakarta, said he had tried to get an explanation for the existence of a fund of Rp 35 billion belonging to 70 PT Peresseia Mazekadwisapta Abadi (Primaz) customers. However, PT Peresseia Mazekadwisapta Abadi (Primaz) management impressed escape responsibility. "They do not give certainty, they just swear to god if they have been convicted," said Lewis. Until now, he said, customers have not been able to contact Budi Laksono, PT Peresseia Mazekadwisapta Abadi (Primaz) Commissioner. Budi home located in Sunter area is also empty. Dewi, one of the PT Peresseia Mazekadwisapta Abadi (Primaz) customers said, since PT Peresseia Mazekadwisapta Abadi (Primaz) defaulted in April 2013, Budi hasn't good faith to recover customer funds. Thus, Budi customers reported to the police. Director of Operations PT Peresseia Mazekadwisapta Abadi (Primaz), Kelvin Ghazali claimed to have resigned from Primaz. Now, Kelvin has been difficult to contact again. Former PT Peresseia Mazekadwisapta Abadi (Primaz) officials said, PT...
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