Jakarta. Indonesian authorities have brought home former Investree chief executive Adrian Asharyanto Gunadi from Qatar to face charges of illegally raising around Rp 2.7 trillion ($164 million) from the public between 2022 and 2024 while running the peer-to-peer lender.
Adrian, who co-founded the peer-to-peer lending platform Investree Radhika Jaya, had been on Interpol’s red notice list after fleeing the country. He was detained upon arrival at Soekarno-Hatta International Airport in Tangerang on Friday, according to the Financial Services Authority (OJK).
“OJK, together with the National Police and several ministries and related agencies, has successfully repatriated and detained AAG, the former director of Investree, who is suspected of raising funds from the public without authorization,” Yuliana, OJK’s deputy commissioner for legal affairs, told reporters at the airport.
Investigators allege Adrian used Radhika Persada Utama and Putra Radhika Investama to pool funds under Investree’s name and later diverted the money, partly for personal use. The case centers on fundraising activities carried out between January 2022 and March 2024, amounting to at least Rp 2.7 trillion, which violated Indonesia’s banking and financial regulations.
Adrian now faces multiple charges under the Banking Law and the 2023 Law on the Development and Strengthening of the Financial Sector, carrying penalties of five to 10 years in prison.
His arrest was complicated by his permanent resident status in Qatar, said Inspector General Amur Chandra Juli Buana, head of the National Police’s International Relations Division. “This was not an easy process. Because the suspect had permanent residency status, the normal channels were not sufficient,” Amur said.
During his time abroad, Adrian reportedly assumed a senior role at JTA Investree Doha Consultancy, further delaying efforts to bring him back to Indonesia. He is currently being held in OJK custody at the National Police’s Criminal Investigation Department detention facility as authorities process the case.
Collapse of Investree
The scandal marked the downfall of what was once considered one of Indonesia’s most promising fintech lenders. Investree began operations in May 2016 and was officially registered with OJK in May 2017.
However, cracks in the company’s financials had already started to appear. Its 2021 financial report showed a comprehensive loss of Rp 27.8 billion, despite generating revenues of Rp 138.28 billion against operating expenses of Rp 158.38 billion.
In 2022, Investree acquired an 18.4 percent stake in Amar Bank as part of its expansion into digital banking. However, on July 16, 2025, Investree Singapore reduced its ownership in Amar Bank from 12.22 percent to 5.63 percent.
In October 2024, OJK formally revoked Investree’s business license, citing violations and mounting risks to lenders. Following this, the liquidation team closed the filing of claims on June 8, 2025, recording 1,669 claims from lenders. Among them were major corporate creditors, including Global Digital Niaga (e-commerce platfiorm Blibli’s parent company) and Amar Bank.
The decision to dissolve the company was made at a shareholders’ meeting on March 14, 2025, and formalized on March 27, 2025.
Adrian began his career as a management trainee at Citibank, later managing Islamic finance at Standard Chartered’s Saadiq unit in Dubai, United Arab Emirates. He went on to lead the Sharia division at Bank Permata and eventually became Managing Director of Retail Banking at Bank Muamalat.
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