Behind the Arrest of KoinWorks Boss, Victims Lured by Returns and 5 Percent Interest

JAKARTA, KOMPAS.com - Three top executives of the peer-to-peer lending company KoinWorks have been arrested by the Jakarta High Prosecutor’s Office on suspicion of corruption offences. They are alleged to have colluded in disbursing credit from one of the state-owned banks to several customers amounting to Rp600 billion. Behind this, there are 94 victims who have suffered losses. Separately, they reported suspicions of fraud and misappropriation of funds by the three KoinWorks executives to the police. The Jakarta High Prosecutor’s Office has named three executives of PT Lunaria Annua Teknologi, which oversees KoinWorks, as suspects in corruption offences on Wednesday (6/5/2026). The three are the President Director of PT LAT, Jonathan Bryan, the Commissioner of PT LAT, Benedicto Haryono, and the Operations Director of PT LAT, Bernard Adrianto Arifin. They are now detained in Cipinang Detention Centre and Salemba Detention Centre for the next 20 days while investigators delve deeper into the case. “And disbursing financing unlawfully from PT BRI Persero to several customers by manipulating collateral in the form of invoices and not closing insurance, thus enabling the disbursement of credit around Rp600 billion,” explained Dapot in a written statement on Thursday (7/5/2026). The three are charged under Article 603 or Article 604 jo Article 20 letter c and Article 126 Paragraph (1) of the Criminal Code in conjunction with Article 18 Paragraph (1) of Law Number 31 of 1999 as amended by Law Number 20 of 2001 on the Eradication of Corruption Offences (PTPK). They face a maximum prison sentence of 20 years and a fine of up to Rp2 billion. Long before the three KoinWorks bosses were arrested, as many as 94 victims had already intended to file police reports in October 2025. The report was finally made on 13 March 2026 at Bareskrim Polri with suspicions of fraud and misappropriation. The victims’ legal representative, Alwin, said the victims suffered losses of up to Rp40 billion from the incident. The report stems from promises by KoinWorks that were never realised, after KoinWorks claimed to have been deceived by a customer in 2024. Customers who suffered losses were promised refunds within a two-year period, plus 5 percent interest per year.