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Investigation into Alleged Property Investment Fraud Unfolds in Bali

Investigation into Alleged Property Investment Fraud Unfolds in Bali
Investigation into Alleged Property Investment Fraud Unfolds in Bali. Image Source: baliwara.com

The Bali Regional Police is investigating a case of alleged fraud involving Golden City property investment, with a total financial loss of Rp7.5 billion, affecting a foreign citizen from the US identified as C.S.

This report is being handled by the Bali Police’s General Criminal Investigation Directorate, based on Police Report Number LP/B/396/VII/2023/SPKT/POLDA BALI, which names two individuals: Brett Sorensen and Yansen Barry.

Reinhard R. Silaban, the victim’s attorney, stated that according to a letter notifying the progress of the investigation from the Bali Police, Sorensen and Barry have been questioned by investigators from the Bali Police General Criminal Investigation Directorate regarding the alleged fraud.

In fact, the two suspects have also been reported by 62 other victims who suffered losses totalling tens of billions of rupiah.

Silaban explained that Sorensen acted as a marketer, offering investment opportunities on behalf of Barry’s PT Bumi Kristal Sumbawa. The two are suspected of enticing potential investors with promises of 99-year property leases and the construction of the Golden City project, comprising around 300 housing units.

This offer was promoted through brochures distributed at Clear Cafe Ubud and Clear Cafe Canggu in 2018.

“Due to his interest in Sorensen’s offer, our client transferred approximately Rp7.5 billion to PT Bumi Kristal Sumbawa in 2018, twice during that year,” Silaban stated.

Before making the payment, Silaban explained that the reported parties assured the victim that they would promptly commence the Golden City project after receiving the payment. However, after the payment was made, they claimed they needed additional funds from other investors before starting construction.

However, during an investigative visit to Sumbawa in early 2020, the victim observed no progress in the promised development. Moreover, the land pledged for the project is still owned by an unidentified individual.

Following this, Barry denied the victim access to the property mentioned in the initial agreement, further deepening suspicions of fraud against C.S.

Feeling deceived, C.S reported the incident to the Bali Police on 28th June 2023.

This case is still under investigation by the Bali Police’s General Criminal Investigation Directorate, which has interviewed four witnesses and requested information from the two reported individuals, Sorensen and Barry.

However, as of this news release, there has been no response from the two suspects implicated in this fraud.

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