Currently, the Forkan and WK's lawyer are determined to appeal in order to demonstrate the error of the verdict of the Malang judges. Details are not yet communicated as all parties are focused on the next steps. We will keep you informed as new information becomes available.
Banners supporting WK sprang up across the country. THE
On Thursday, January 25, 2024, Wahyu Kenzo's lawyer filed an appeal against Decision 353/2023 at the Malang District Court. According to the appeal decision, the parties (WK/JPU) have the possibility of appealing to the Court of Cassation in the event of dissatisfaction. The execution of the confiscated property in the ATG case cannot yet be carried out, as the legal proceedings are ongoing. You must remain patient until the next legal steps.
This morning of Friday January 19, Judge Arief Karyadi was replaced by another lawyer who delivered his decision, requesting a sentence of 10 years in prison for WK and $650.000 fine. Many observers, both Indonesian and foreign, believe that this decision is totally unfair and seen as an attempt to slow down the development of this commercial activity in a country strongly marked by state corruption but also as a clear theft of each member's investments. .
Wahyu Kenzo vigorously defends himself against the accusations against him. Here are some key points from the defense of his lawyer, Evans Hasibuan:
The database of Forkan members was sent to the office of Prosecutor Yuniarti Setyorini. Yesterday, during the oral argument, the lawyer transmitted it to the judges.
In Indonesia, many people are mobilizing and displaying banners of support for the situation of Wahyu Kenzo and that of ATG.
ATG (despite numerous hearings, investigations and expert hearings) was not found to be a Ponzi scheme and no evidence of fraud or embezzlement was identified throughout the trial. If the judge only considers the violation of operating permits, in the context of money laundering, the maximum penalty would be 4 years or a simple fine because the latter can be paid in lieu. License/permit violations are not considered serious crimes in Indonesia.
The list of Forkan members will be handed over to prosecutor Yuniarti Setyorini on Thursday, January 11. Awaiting the judge's final verdict, Wednesday January 17, 2024.
Rad Gumilang informs about the current situation of the CEO, who is detained in Malang for using an unauthorized operating permit related to trading robots (Article 106). Law on trading bots non-existent at the time. Dinar Wahyu was a pioneer in Indonesia regarding trading algorithms combined with cryptocurrencies. His lawyer will present his defense on January 10 with the SPH, followed by the judge's verdict on January 17.
Mr. Wahyu Kenzo's SPH (acknowledgment of indebtedness) to ATG members via FORKAN will be added on January 10, 2024. Lawyer Albert Evans Hasibuan, representing Wahyu Kenzo and Chandra Bayu, expressed reservations about the clarity of the accusations made by the prosecutor. He emphasized that the charges were ambiguous or lacked precision.
People who were unable to complete their registration on the association's website Forkan, either because they were unable to fill in all the requested information or because they were unable to make the payment, have the opportunity to do so again.
People who are not members of the Forkan association are not affected by this information. Specific instructions for non-registered participants will be communicated later.
The Forkan team is always present at the trial to observe the proceedings and court decisions. The hearings are still ongoing, and members of the Forkan team may be called to testify if the defense attorney wishes.
Dates of the last hearings before the judge's verdict:
Among the witnesses called to the stand : Ardian Dwi Yunanto (PPATK), Agus Sulistyanto (Bappebti), Abdul Muslim (Accountant and Audit Partner), Yan Watukulis... No Ponzi, Real Trading, Proper accounting management, no fraud.
Currently, we do not know if Judge Arief Karyadi has taken the required steps with the PPATK in order to release all of the funds. When this is done, withdrawal tests can be carried out. This trial should end within a few weeks, at the end of January maximum. As a reminder, the funds have been frozen for almost 2 years, despite the start of the trial which began 9 months ago (March 2023). Since July 2023, Indonesia has modernized by opening its first crypto exchange, which would facilitate the transfer of funds to each member.
On October 28, 2023, representatives of Forkan met with the lawyer of Wahyu Kenzo, the founder of ATG. They discussed the terms of reimbursing investors. Wahyu Kenzo's Instagram account is now managed by his lawyers.
The trial of the ATG founder is expected to end in January 2024. In the meantime, the Forkan calls for caution against scammers and fake accounts/rumors about ATG and Wahyu Kenzo. Official information is available on the Forkan Telegram channel which we relay here, with other serious channels.
Mr. Albert Evans Hasibuan, representative of Mr. Dinar Wahyu Kenzo, obtained the list of Forkan members this Wednesday, October 18, before this morning's court hearing in Indonesia.
We would like to once again remind members who have registered with both WLP and FORKAN, but have not yet completed their registration as Forkan members, that they are requested to confirm their payment by 31 October 2023. There will therefore be no news before the beginning of November.
We extend our sincere thanks to Forkan for the remarkable work carried out in recent months.
Regarding the trial of Mr. Wahyu Kenzo, the prosecution's witnesses are currently giving their statements. During the previous trial, only five of ten scheduled witnesses appeared.
The Forkan will send a paper version of the documents relating to the recognition of debts to Albert Evans Hasibuan, Mr. WK's lawyer, on Wednesday October 18.
It is also essential to emphasize that Forkan is dedicated to fighting for the rights of its members, also engaging in their education about cryptocurrencies in general, without recommending a specific online business.
Forkan registration is now closed with 31 registered members. Although registration has closed, adjustments for existing members are still possible. The trial involving Dinar Wahyu is ongoing, with the next hearing set for October 701, 4. Currently, half of the Forkan members have been validated, the rest having not paid the membership fee.
The acknowledgment of debt letter (SPH) to the members of the ATG as well as the assets promised under the SPH with FORKAN as facilitator was signed by Mr. WK this Friday, September 15, 2023.
The Forkan has validated more than 10 accounts among the 000 existing ones. By mid-September, we should see the new Forkan site go online, where we will be able to follow APH updates and add the deposit address USDT for non-Indonesians.
Initially, it was planned to receive 20% of the final balance of your last MT4. However, it now appears that we will get the entire recorded balance at the end of April 2022 on ATG and/or ATC, which should more or less amount to the same result. Nothing is really fixed at the moment.
You can check this amount in the emails you received from Legomarket at the end of April 2022 for those who archive their emails. This amount will however be mentioned on the new site according to the database of your MT4 at the time.
Currently, the Forkan and the CEO are in the process of having an individual acknowledgment of debt (APH) drawn up before a notary concerning the entirety of your MT4 account(s). (ATG+ATC). The Forkan website, which will facilitate member registration, is still being prepared and should be completed between August 7 and 11.
The 22.000 members who had already completed the Gform form will have priority to register. Those who did not complete it will be part of the second wave (around August 10). It is important to note that the registration fees to become a member on the Forkan site amount to approximately ten dollars and will be payable in USDT BSC BEP20 (this includes attorney fees, development fees, meeting fees, transportation, etc.).
Forkan's URL is available here: https://www.forkan.id
For those who filled out the Gform, at the time, enter your email address in lowercase and use as
Registration fees for the Forkan site will be payable very soon in USDT. The deposit address USDT has not yet been transmitted. Think you will need to join the proof of transfer (TXID).
The APH part will be available a little later. As soon as everything is ready and 100% usable, I will notify everyone on Telegram.
Le Forkan is actively involved in ATG's takeover efforts as soon as possible. Currently based in Jakarta, they are working intensively on setting up a debt recognition service in collaboration with notaries and WK's lawyer via a website.
This service should be operational in July. Users will be prompted to login and provide required information such as first name, last name, KYC, etc. You will be able to access this service using your old credentials. Pantheratrade.
At the same time, they are focusing on the digital transformation of the company, thus ensuring that the future robot is fully compliant with current legislation. They also make sure to prepare an appropriate transfer of monetary funds from the old company to the new one.
The information is very discreet for this month of June. The Dinar team is working hard for the restructuring of the new company. Forkan will send us a new form to fill out, via their website, and it will be notarized. Everything seems to be moving in the right direction. We look forward to the next steps.
The Aspri-facilitated meeting between FORKAN and WK went smoothly and we are grateful to know that Wahyu Kenzo is doing well.
FORKAN encouraged the leader to respond promptly to the summons he received. WK, in demonstration of its commitment to its investors, intends to respond to this summons by issuing a statement of debt (SPH). However, the details of this concept must be carefully worked out, determining to whom, how much, when and how the payment will be made. This will require further consideration and time.
Wahyu Kenzo is committed to balancing its losses with the concept of acknowledgment of debt (SPH).
The deadline for the development of the SPH is set at 14 days (mid June 2023). The response to this invitation will serve as a reference for the next steps.
Several business digital transformation models were also discussed. These models emphasize monitoring of the business by its members and adhere to applicable rules and regulations.
FORKAN also consulted with the IT team to discuss the steps to be implemented. The concept already exists with V3, but it requires a financial plan and a business plan to be implemented.
When the response to the summons will be effective, FORKAN plans to launch a positive campaign to show the leader's good intentions.
FORKAN will continue to respect the ongoing legal process and expects it to be fair and supportive, so that it does not hinder the company's transformation plans.
Since January 2022, the trading platform Autotrade Gold (ATG) is going through a turbulent period, having been suspended following investigations into its chief executive, Wahyu Kenzo, on suspicion of money laundering.
Currently in custody by Indonesian law enforcement authorities, the situation has potentially prompted the Indonesian government to consider regulating cryptocurrencies and trading bots.
Pending the adoption of the new legislative framework and the clarification of the situation concerning Pantheratrade, linked to ATG, investors are waiting.
As far as Wahyu Kenzo is concerned, the latter is assisted by a team of lawyers for his defence.
The Indonesian association Forkan, made up of former ATG founders and lawyers, as well as a large part of the members, campaign for restorative justice.
The main purpose is to ensure a rapid reimbursement of the initial funds to the members of the platform and/or a possible takeover of the business.
The possibility of recovering the funds invested in Autotrade Gold (ATG) remains uncertain. Between legal complexities and allegations of corruption within the Indonesian government, skepticism about a possible return on investment is justified.
Several political figures and leaders of financial entities, including banking and insurance organizations, whose presence is not beneficial for Dinar Wahyu Kenzo, appear to support the termination of ATG, perceived as a threat to their own business activities .
The ATG affair raises many questions on all continents... 🤔
A Ponzi pyramid hypothesis has even been made, an allegation that remains to be proven given the efforts made by WK to regularize its Fintech ecosystem with its government.
According to information revealed by the Forkan association, withdrawals exceed the number of deposits made, which excludes any Ponzi pyramid. In a context marked by accusations of corruption and manipulation, hope lies in the integrity and impartiality of justice and its judge Arief Karyadi. It is crucial that the latter can shed light on this matter in order to guarantee a fair trial and possibly a resumption of activities for this Indonesian company.
One thing is certain: ATG uses the MT4 trading platform, known for its vulnerability to manipulation. In order to avoid copy trading and instead of limiting itself to a single transaction per day, ATG could have carried out multiple small transactions to achieve an average daily return of 0,75%, a performance achievable by many robots or experienced traders .
In London, transactions were generally carried out between 16 p.m. and 18 p.m., or between midnight and 2 a.m. in Jakarta, Monday to Friday. Although ATG is a robot, it is supervised by Indonesian traders who analyze the market and close trades.
In a new twist of events, the lawyer representing the Forkan Association officially sent a letter of summons to Wahyu Kenzo, demanding compensation for the affected members. This movement marks a crucial step in the quest for restorative justice for aggrieved parties.
A crucial meeting is on the horizon, scheduled between Wahyu Kenzo's legal team and lawyers from Forkan and WLP. The purpose of this meeting is to discuss the potential settlement of this complex and ongoing case.
At the moment, Wahyu Kenzo is still in Malang, where he is being thoroughly investigated by central and regional police authorities. However, reports suggest he could be moved to Jakarta to speak out on ATG's situation.
The community is eagerly awaiting the next developments in this legal saga. Details of the investigation remain confidential, but what is certain is that the outcome of this case will have major implications for all parties involved.
News about the CEO of Pantheratrade are expected before mid-May, adding further tension to this unfolding legal saga. Investigations remain active and the company's founding members are continually being questioned by local police, suggesting the case is far from done.
In a positive development for the Forkan Association, they managed to get 22 Gforms completed, well exceeding their initial target of 000. This impressive response from the parties involved highlights the importance of this case and the need for a quick and fair resolution.
In a regrettable development, the CEO of ATG was taken into extended custody this Tuesday, March 7, 2023, adding another layer of complexity to this ongoing legal saga. The information left the community in shock, while intensifying the pressure on the parties involved to find a solution.
The end of the ongoing investigation in Indonesia is eagerly awaited, as it could pave the way for a procedure for the recovery of funds or a possible resumption of ATG's activities. This decision, which will have important implications for all parties involved, is expected by the end of the month at the latest.
The regulations surrounding these innovative financial tools are still being developed, which has created a significant number of constraints for the company. As a result, details regarding withdrawal dates and terms are still not available to investors, leading to frustrations.
Indonesian trading robots will be governed by the Future Contracts Companies regulations, legislation itself being finalized. This situation underscores the complexity of navigating a rapidly changing technological space while remaining compliant with emerging regulations.
The administrative process in Indonesia is known for its cumbersomeness and slowness, which compounds the fatigue already felt by all stakeholders involved. As the wait drags on, it is clear that patience will be essential in navigating this period of regulatory turbulence and uncertainty.
As of January 27, ATG's trading robots have been taken out of service and MT4 accounts are inaccessible due to ongoing maintenance work. The CEO, however, brought a ray of hope by sharing promises of good news to come about the ATGI group. All processes are ongoing and cannot be described in detail, but resolution is visibly approaching.
An update regarding the ATG robot has been posted on the site https://pdki-indonesia.dgip.go.id. Additional information regarding other bots should follow shortly.
In a collaborative effort, all founders, leaders and lawyers linked to ATG gathered in Jakarta this Saturday, February 4, a sign of a common mobilization in the face of this complex situation.
Another virtual meeting took place this Saturday, January 21 at 17 p.m. Indonesian time, bringing together Dinar Wahyu, a company representative, Gilank, an active investor in ATG, and Krisnadi, a lawyer. They reiterated that current legal conditions do not yet allow withdrawals, although progress is notable. Withdrawals should initially be made in LEGO, if technically possible, and possibly later in USDT, if the legal procedure allows it.
ATG appears to be on the right track, but must comply with the regulations and legal process established by the regulator. The start date of the withdrawals is not yet determined and is not under the control of the ATG executive. This is an ever-changing situation that requires patience and understanding from all involved.
Dinar has fully complied with the regulator's requests and requirements. Formal approval from the regulator is expected by the end of January 2023. It is important to note that not all funds are truly frozen; they simply cannot be mobilized because the corresponding legislation has not yet been signed. Therefore, any criticism or attack on the CEO would not only be unfounded, but also unnecessary since he is submitting to the requirements of the PPATK.
Two virtual meetings were organized, with the participation of Dinar Wahyu for a few minutes to clarify the current challenges. However, the lack of transparency makes it difficult to fully understand the obstacles encountered and limits our ability to provide concrete support. Dinar Wahyu strives to comply with all applicable regulations. Patience is therefore required on the part of all parties involved while the solutions are gradually put in place.
Dinar Wahyu was officially indicted on November 18, 2022. For now, the situation is not critical. The investigation should be allowed to take its course. V2 and transactions were down for a week but are now back up and running. The technical team is working diligently to put V3 online as soon as possible. However, technical challenges, particularly related to regulatory requirements, appear to be delaying its launch. MT4 accounts remain tied to V2 for now.
The third version of Pantheratrade is now complete. This new version allows the management of licenses, batches and the administration of the two new trading robots (oil and forex). ATFx (Autotrade Forex) and ATO (Autotrade Oil) trading robots have been deployed on the new platform Pantheratrade V3, actively operating in their respective markets.
On September 2, 2022, Indonesian regulatory authorities approved the trading robots of Pantheratrade. While the technical team awaits receipt of official documents, they are working to fix minor bugs and prepare for the launch of the exchange Pantheras, potentially simultaneously with V3.
The third version of the site Pantheratrade is almost complete and will soon be in place for a few weeks of testing. This new version will offer many features, including the automation of withdrawals in USDT, BTC and ETH (subject to government approval), affiliate and referral management, license management, and more. The most notable aspect is that it will handle many cryptocurrency withdrawal transactions, merging crypto technology with forex.
The tests confirmed the effective functioning of the automatic withdrawals on the four phases announced by the team. Transfers were made in LegoCoin to ensure accurate tracking of each transaction.
The roadmap relating to technical developments has been communicated to us. We are now in the final phase before a planned resumption in October or November 2022. The entire team has complied with the Indonesian government's requirements. As announced on Telegram, four crucial points currently hinder withdrawals:
new Indonesian laws (in progress)
Unfreeze bank accounts (pending)
optimization of the customer database (work completed)
crypto withdrawal automation (work completed)
Maintenance has been performed at LegoMarket on the central server. Histories have been removed and accounts are now synced to perform the same trade for all users.
In order to comply with Indonesian regulations, ATG must imperatively operate with regulated brokers in Indonesia. After Soegee FX, Laba FX is now associated with ATG 5 for trading. For now, non-Indonesians continue to work with LegoMarket.
During maintenance, some URLs may change. The button below allows you to access the most recent links for Pantheratrade, Pansaka, ATG bot and ATC bot.
Also on version 2, withdrawals from some investor accounts are made manually. Operational tests were carried out on Forex and Crypto systems. The Expert Advisor (EA) tests were conducted at the broker Soegee, with positive results.
Pre-opening of new head office in Dubai for non-Indonesian investors. Nicky Haryasyah, the new CEO, is in charge of the organization and growth of the company outside Indonesia. He carried out tests on current bugs and server-side load scaling. Mr. Dinar Wahyu Kenzo manages more of the legal part in his country. Start of cooperation with the Indonesian regulated broker Soegee to make ATG work again.
Legocoin has been introduced on some exchanges such as Coinstore. The LEGO token remains a test cryptocurrency for transactions since stablecoins are prohibited due to lack of laws. Certainly, they wish to develop it for new internal projects, most certainly for the payment of licenses, the addition of capital on Pantheratrade or the purchase of NFT. We don't have concrete information at the moment but here is the Lego whitepaper.
The payment gateway Coinpayment failed which led to the end of the partnership. Opened a new partnership with Coinstore for the purpose of settling crypto transactions. Implementation of a new payment gateway system. This must be recoded from A to Z.
A group of Indonesians filed a complaint against ATG for the delays without understanding that these were legal blockages by PPATK. This fear will lead to legal proceedings impacting the smooth running of V3 and future withdrawals.
New version of the site Panthera with withdrawal and deposit. The mass of withdrawals generated bugs with illegibility of identification TX. This version is unfortunately unworkable and a V3 is necessary to satisfy all members in order to make mass withdrawals.
The Indonesian government is taking a close interest in the leaders of Pantheratrade and Pansaka in particular to Dinar Wayhu, current CEO. After auditing the situation, the robots are real and can continue to trade but they will have to comply with the next laws that will come out in the coming months: ATG must be usable at any broker ; the broker must be located in Indonesia; managers must have trader certification (acquired subsequently).
During this month of February, Panthera started migrating data from Version 1 to Version 2.
All trading robots have been targeted by Indonesian financial authorities: ATG, DNA Pro, Net 89, IPC, Fahrenheit, Evotrade... Rightly so, given the number of scams linked around this ecosystem. Many fake robots therefore stopped their activities and certain leaders went to prison very quickly. Members' money is blocked by the state body PPATK in Indonesia. Currently the country does not have a state-validated crypto exchange, nor laws on cryptocurrency and trading robots.
