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Golden City Developer in Alleged Fraud Opens Up

Golden City Developer in Alleged Fraud Opens Up
Golden City Developer in Alleged Fraud Opens Up. Image Source: panglimahukum.com

Owner and Director of Bumi Kristal Sumbawa, Yansen Barry, feels criminalised by an American citizen’s (Christopher Stephen Smith) report to the Bali Regional Police on suspicion of committing fraud under the guise of property investment with a loss of Rp7.5 billion.

“The news in the media was one-sided, and several people who claimed to be investors (tenants) reported me to the Bali Regional Police, which made me feel very disadvantaged. I feel objected to and criminalised. For this matter, I will take legal action,” said Barry accompanied by his attorney, Togar Situmorang, in Denpasar, Bali, on Monday, 4th December 2023.

Barry explained that the Golden City property investment located in Sumbawa is business-to-business, where both parties are bound by the clauses and agreements that have been agreed upon and signed in the contract letter and certificate.

“There is evidence, legality, contract, certificate, a clear object – there are activities, and I am here. I’m not going anywhere, and I’m ready to cooperate and take responsibility through the facts and evidence that I have,” he said.

Barry also emphasised that this business scheme was land, property, and developer rental, not a Ponzi Scheme as alleged by the reporting party because a Ponzi Scheme has the connotation of investment fraud where clients are promised large profits without risk in a short time.

That’s a public lie,” he expressed.

Meanwhile, Barry’s attorney said that the report by the victim’s attorney, Reinhard R. Silaban, at the Bali Police on Thursday, 4th October 2023, was a very tendentious report handled by the Bali Police’s General Criminal Investigation Directorate.

“We are very sorry for the police report against my client regarding fraud and embezzlement. My client has spoken for not being a single subject but is a business entity. This means a business entity that has a vision and mission, and the project is not in Bali, but in West Sumbawa. The people who join the client are investors (tenants); they have invested something, and they have also got something. Well, this is what needs to be underlined.”

“The PT Bumi Kristal Sumbawa office is located in West Sumbawa. It’s strange; apart from being reported by the Bali Police, a client has also filed a civil lawsuit at the Gianyar District Court. This is clearly making this case even more obscure, and they are confused about whether it is criminal or civil. This is clearly business,” Situmorang revealed.

In the meantime, emphasised Situmorang, his client shall not be criminalised because several legal stages and procedures that must be carried out before making a report to the police by the reporting party’s attorney have not been fully implemented.

Previously, Reinhard R. Silaban from the Malekat Law Firm as the attorney for American citizen Christopher Stephen Smith reported Brett Sorensen and Yansen Barry regarding a case of alleged fraud under the guise of Golden City property investment with a total loss of Rp7.5 billion at the Bali Regional Police in early October.

Sorensen acted as a marketing agent who offered investments to victims on behalf of PT Bumi Kristal Sumbawa owned by Barry. The pair are suspected of luring potential investors with promises of 99-year property leases and the construction of the Golden City project of approximately 300 housing units.

The defendants guaranteed that they would immediately start the Golden City project after the payment. However, afterwards, they stated they had to raise additional funds from other investors before starting construction.

During investigations in Sumbawa in early 2020, Smith did not see any progress in the promised development. In fact, the land pledged for the project is said to still be under the ownership of an unidentified person.

Furthermore, Barry did not give Smith access to the property promised in the initial agreement. Feeling deceitful, Smith reported the incident to the Bali Police.

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