Indonesian Police Arrest Founder of Fraudulent Fintech Firm Dana Syariah

Indonesian police have arrested FH, the founder of PT Dana Syariah Indonesia (PT DSI), as part of an ongoing investigation into alleged fraudulent fundraising activities. The Directorate of Special Economic Crimes at the National Police headquarters detained FH for 20 days, starting June 19, 2026, to aid the investigation.

FH is the latest suspect to be apprehended, following the earlier identification of four others: TA, MY, ARL, and AS. He previously held significant positions at the Financial Services Authority (OJK) and the Indonesia Stock Exchange (IDX). Investigators have gathered five pieces of evidence to support the charges against FH.

“

Subsequently, after examining suspect FH, a coercive detention was carried out at the Bareskrim Polri detention center for the next 20 days, from June 19 to July 8, 2026, for the purposes of the investigation.

The company is accused of using fictitious projects to channel public funds, allegedly exploiting borrower data between 2018 and 2025. The charges include embezzlement, fraud, violations of financial services laws, electronic crimes, and money laundering. Police are collaborating with the Financial Transaction Reports and Analysis Center (PPATK), OJK, and other agencies to trace assets and facilitate victim restitution. The case files for three suspects have already been declared complete and handed over to prosecutors.

“

The examination of suspect FH began at 11:00 AM WIB and concluded around 9:00 PM WIB, during which the investigators asked a total of 79 questions, with suspect FH accompanied by his legal counsel.