Indonesia's Financial Services Authority (OJK) announced that, together with the Indonesian National Police and other relevant ministries and agencies, it has repatriated and detained AAG, a former director of PT Investree Radhika Jaya, who is suspected of illegally collecting funds from the public without an OJK licence. The alleged conduct took place from January 2022 to March 2024 and reached at least IDR 2.7 trillion. OJK alleges the suspect used PT Radhika Persada Utama and PT Putra Radhika Investama as special purpose vehicles to raise funds in the name of Investree, with the proceeds then used, among other things, for personal purposes. The case is being pursued under provisions of the Banking Law and Law No. 4 of 2023 on Development and Strengthening of the Financial Sector, together with Article 55 of the Criminal Code, carrying potential imprisonment of five to 10 years; a wanted-person notice and Interpol Red Notice were issued on 14 November 2024 after the suspect was found to be in Doha, Qatar. AAG is being held as an OJK detainee in the Indonesian Police Criminal Investigation Agency detention facility for further legal proceedings, and OJK is coordinating with police regarding victim reports submitted to the Criminal Investigation Agency and the Metro Jaya Regional Police.
OJK 2025-09-26
Indonesia's Financial Services Authority repatriates and detains former Investree director over alleged unlicensed IDR 2.7 trillion fundraising
Indonesia's Financial Services Authority (OJK), with the Indonesian National Police and other agencies, has repatriated and detained AAG, a former director of PT Investree Radhika Jaya, for allegedly collecting funds illegally without an OJK licence. The activities, involving at least IDR 2.7 trillion, occurred from January 2022 to March 2024 using special purpose vehicles. Legal proceedings are underway under the Banking Law and Law No. 4 of 2023, with potential imprisonment of five to 10 years.