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View all search resultsJakarta prosecutors detain three in $35m KoinWorks graft probe
Authorities allege the executives of PT Lunaria Annua Teknologi (LAT), the operator of KoinWorks, manipulated collateral documents and falsified trade invoices to secure massive loans from state-owned lender BRI.
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People are given information about services from online lending company KoinWorks in Jakarta in April 2019. (The Jakarta Post/Dhoni Setiawan)
T
he Jakarta Prosecutor’s Office has detained three suspects over an alleged Rp 600 billion (US$35 million) loan scheme involving fake invoices and manipulated collateral tied to peer-to-peer (P2P) lending platform KoinWorks.
The suspects, executives of PT Lunaria Annua Teknologi (LAT), the operator of KoinWorks, were taken into custody on Thursday, according to Jakarta Prosecutor’s Office legal information head Dapot Dariarma.
The prosecutor’s office only referred to the detainees by their initials but stated their roles, which pointed to them being LAT operations director Bernard Adrianto Arifin, LAT president director Jonathan Bryan, and Benedicto Haryono, founder, commissioner and president director at the company from 2015 to 2022.
Authorities allege the suspects manipulated collateral documents and falsified trade invoices to secure massive loans from state-owned lender Bank Rakyat Indonesia (BRI).
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Dapot said the suspects had allegedly worked together in approving financing for borrowers despite inadequate feasibility assessments, while using manipulated invoice-based collateral documents.
Prosecutors allege they bypassed mandatory insurance requirements and used falsified invoices to create the appearance of high-value collateral in order to obtain financing unlawfully.
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