Police detain former IDX executive Fitri Hadi in Dana Syariah fraud case

Indonesian police have arrested Fitri Hadi, a former executive at the Indonesia Stock Exchange and the Financial Services Authority (OJK), as a new suspect in an alleged fraud and embezzlement scheme involving PT Dana Syariah Indonesia (DSI).

Hadi, who also served as the founder and advisor for PT DSI, is facing charges that include fraud, embezzlement, falsifying financial reports, and money laundering. Investigators allege that Hadi used data from previous borrowers to solicit funds from the public between 2018 and 2025. He was reportedly questioned for eight hours, facing 79 questions from investigators.

The arrest of Hadi marks an expansion of the ongoing investigation, which has already seen the detention of three other individuals: PT DSI's President Director Taufiq Aljufri, Commissioner Arie Rizal Lesmana, and former Director Mery Yuniarni. Hadi was officially named a suspect on June 8, based on five pieces of valid evidence, including witness and expert testimonies, documents, physical evidence, and electronic data.

Brigadier General Ade Safri Simanjuntak, Director of Special Economic Crimes at the National Police's Criminal Investigation Agency (Bareskrim), stated that Hadi would be detained for 20 days for investigative purposes. The authorities are also actively engaged in asset tracing and recovery efforts related to the alleged criminal proceeds, with plans to seize assets believed to be connected to the case.

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Forced detention for the next 20 days for investigative purposes.