Three PT Dana Syariah Indonesia Executives Charged with Rp1.3 Trillion Embezzlement

Three executives from the Indonesian financial company PT Dana Syariah Indonesia face charges for allegedly embezzling a staggering Rp1.3 trillion (approximately $85 million USD).

The indictment was presented during a trial at the Depok District Court. The accused are identified as Taufiq Aljufri (TA), the President Director; Mery Yuniarni (MY), a former Director; and Arie Rizal Lesmana (ARL), a Commissioner. "The total loss amounts to Rp1,386,834,954,040," stated Barkah Dwi Hatmoko, Head of Intelligence at the Depok Prosecutor's Office, as quoted by detikcom.

Previously, the Indonesian National Police's Criminal Investigation Agency (Bareskrim Polri) received public reports regarding alleged defaults by PT Dana Syariah Indonesia. During the investigation, police uncovered a modus operandi involving fictitious projects. The company allegedly used data from existing borrowers, presenting these as new projects to solicit investments from the public.

The defendants are charged under multiple articles, including Article 488, 486, and/or 492 in conjunction with Article 20 letter c of the Criminal Code, and/or Article 45A Paragraph (1) in conjunction with Article 28 Paragraph (1) of the ITE Law, as well as Article 299 of Law Number 4 of 2023 concerning the Development and Strengthening of the Financial Sector. Additional charges include Article 607 Paragraph (1) letters a, b, and c of the Criminal Code.