Compensation for Indra Kenz Victims Remains Unresolved

Indra Kenz has been granted parole following his involvement in the Binomo robot trading investment case. However, despite his release, the process of providing compensation to the victims remains problematic.

Compensation for the victims is to be sourced from Indra Kenz’s personal wealth. The mechanism for this restitution was established through a ruling by the Banten High Court.

The initial ruling by the Tangerang District Court, which presided over the case of Indra Kesuma (known as Indra Kenz), stated that the evidence resulting from the criminal acts in the Binomo case should be forfeited to the state. Upon hearing this verdict, Binomo traders reacted with distress and tears.

The panel of judges had previously ruled that the seized assets were the proceeds of gambling and that the Binomo traders were essentially gamblers. The judges disagreed with the prosecutor’s demand to return the evidence to the victims via the ‘Trader Indonesia Bersatu’ association, arguing that the traders were merely gamblers masquerading as Binomo traders.

However, in January 2023, the High Court of Banten overturned the lower court’s decision. The appellate judges ordered that Indra Kenz’s assets be distributed to the victims.

Specifically, the court ruled that evidence items 220-258 should be returned to the victims to be distributed proportionally through the Trader Indonesia Bersatu association. The court noted that there were 144 victims who had suffered massive losses amounting to Rp 83 billion. The judges reasoned that because the case originated from a report by a victim, it was inappropriate to categorise the traders’ actions as gambling.

Despite the appellate court’s decision, the distribution of compensation from Indra Kenz’s assets is currently facing significant hurdles. The issue arose from a change in the management of the Trader Indonesia Bersatu (PTIB) association, which represents the victims of the Binomo scam.

The new management of PTIB has even reported the former management to the South Tangerang Police. According to the new leadership, the previous officials have been uncooperative in handing over documents and available assets held by the association.

“This is hindering the process of selling assets and returning funds to Indra Kenz’s victims. We also demand that those suspected of embezzling these assets be processed legally,” said the Chairman of PTIB, Leo Chandra, to reporters on Tuesday (19/12/2023).

“Reports have been made regarding the embezzlement of assets from the previous management. There is a lack of transparency regarding the Tesla, Ferrari, and Alam Sutera property sales,” he added.

Beyond the South Tangerang Police, legal counsel for the Binomo victims also filed a report with the National Police Criminal Investigation Agency (Bareskrim Polri) in 2025. The report was officially registered under number LP/B/184/IV/2025/SPKT/BARESKRIM POLRI, dated 22 April 2025.

“There are approximately five reported parties, and this number could increase depending on the development of the case,” said Irsan Gusfrianto, legal counsel for the victims, when asked for confirmation on Saturday (17/5/2025).

The five reported parties include MN, MR, and RXS, who are members of the PTIB management, as well as IP, an association member, and NZ, acting as a lawyer. Irsan explained that the association is a group comprising the victims of Indra Kenz.

The report was filed by a victim representative, identified by the initials VS, on behalf of nine other victims. “The PTIB association sold the seized assets of Indra Kenz after they were handed over from the South Tangerang Public Prosecutor’s Office,” Irsan stated.

Legal counsel suspects that the reported parties have committed embezzlement and money laundering involving seized houses belonging to Indra Kenz, with total losses reaching Rp 30 billion. One alleged method involved deducting Rp 4 billion from the victims’ compensation as a ‘success fee’ for a lawyer who had never received power of attorney or approval from the victims.

“The modus operandi of the reported parties involved deducting Rp 4 billion from the victims’ funds for a lawyer’s success fee, even though that lawyer was never authorised by the victims,” Irsan explained.

Furthermore, two of Indra Kenz’s houses in Medan, located on Jalan Seroja and Jalan Bilal, were sold by the reported parties for only Rp 5.5 billion. In reality, the Jalan Seroja property is estimated to be worth up to Rp 30 billion, while the Jalan Bilal property is estimated at Rp 1.7 billion.