Investment fraud is a criminal act or investment activity that is not carried out properly, in other words, the investment bidder has committed a fraudulent act. The main characteristic of investment fraud has diversity, one of which is not having a valid permit from the financial services authority (OJK). Not infrequently the application of crime for perpetrators of investment fraud has uniformity, considering that the element of wrongdoing against the perpetrator is difficult to reveal because in investment practice profits and losses are commonplace. This study aims to determine how to apply the ideal criminal sanctions against perpetrators of investment fraud. The approach method in this study uses a normative juridical approach, in which data is obtained based on studies of laws and regulations and other legal materials. The results of the study show that the cases of 3 court decisions that adjudicate criminal acts of investment fraud have differences, even using different laws and regulations. Perpetrators of criminal acts of investment fraud should ideally be given criminal sanctions specifically by looking at the most severe criminal sanctions, such as Law no. 8 of 2010 concerning the Prevention and Eradication of the Crime of Money Laundering if the proceeds of the crime are used to purchase personal items. Application of special criminal rules against investment fraud by the provisions of Article 63 paragraphs (1) and (2) of the Criminal Code. The advice given is that policymakers should make specific rules regarding the crime of investment fraud. So far, the application of criminal sanctions against investment fraud perpetrators has been different. The formulation of criminal regulations related to investment fraud can provide legal certainty in law enforcement against investment fraud.