Jakarta, Indonesia Sentinel — The Financial Services Authority (OJK) of Indonesia has taken decisive action to address the issues surrounding the collapse of Investree, a fintech company, and is pursuing its founder, Adrian Asharyanto Gunadi, abroad. This comes after the company violated key regulations, leading to the revocation of its business license.
OJK is now cooperating with law enforcement agencies to bring Adrian back to Indonesia for further investigation and legal action.
M. Ismail Riyadi, the Acting Head of OJK’s Department of Literacy, Financial Inclusion, and Communication, confirmed that the authorities are working to recover Adrian and bring him back to face the legal consequences.
“OJK is working with law enforcement agencies to ensure Mr. Adrian Asharyanto Gunadi is returned to the country in compliance with legal provisions,” Riyadi said during a press conference on Tuesday, October 22, 2024.
Investree, a peer-to-peer lending platform, had violated key financial regulations under POJK Number 10/POJK.05/2022, which governs Information Technology-Based Joint Funding Services (LPBBTI). One of the primary issues was the company’s failure to meet the required minimum equity, leading to concerns over its financial stability and sustainability. Consequently, OJK revoked Investree’s license and initiated an investigation into its financial management practices.
To further address the issue, OJK has frozen Adrian’s bank accounts, along with those of other individuals linked to the company. This asset freeze is part of a broader effort to trace and recover assets that may be used to compensate affected investors.
“OJK has frozen the bank accounts of Mr. Adrian and other related parties. We are also in the process of tracing their assets in accordance with legal procedures,” Ismail added.
In addition to the financial measures, OJK is collaborating with law enforcement to initiate legal proceedings against Adrian for alleged violations of financial regulations. The agency suspects that criminal activities related to the financial services sector may be involved.
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“OJK, in cooperation with law enforcement, is pursuing legal action for suspected criminal offenses in the financial services sector, and these will be handled in accordance with the law,” said Ismail.
The collapse of Investree has sent shockwaves through Indonesia’s financial technology sector, raising concerns about the regulatory oversight of fintech companies. OJK’s swift response underscores its commitment to enforcing financial regulations and protecting investors from fraudulent activities.
(Becky)
