Court Slashes Gibran's Sentence to Just 6 Years in Prison

The Bandung High Court has reduced the sentence of former eFishery boss Gibran Chuzaefah Amsi El Farizy, known as Gibran Huzaifah, in an investment embezzlement case. The High Court judges cut Gibran’s punishment to 6 years in prison. “Sentencing the Defendant to 6 years’ imprisonment; and a fine of Rp 2,000,000,000 with the provision that if within 1 month of the ruling obtaining permanent legal force the fine is not paid, then the Defendant’s assets or income shall be seized and auctioned by the Prosecutor to settle the fine, and if the proceeds of the seizure and auction are insufficient or impossible to execute, it shall be replaced with 320 days’ imprisonment,” read the court ruling as seen on the Supreme Court website. The Rp 2 billion fine is larger than the initial verdict. The judge stated the defendant had been legally and convincingly proven guilty of committing criminal acts of embezzlement in office and money laundering. The judge also ordered a number of Gibran Huzaifah’s assets to be confiscated to compensate victims’ losses. One of the assets seized is Gibran Huzaifah’s house in Bandung. Previously, the Bandung District Court panel of judges handed down a 9-year prison sentence to eFishery startup CEO Gibran Huzaifah. He was found guilty in a case of manipulating financial reports and money laundering. In this case, Gibran was not alone. He was a defendant alongside Angga Hadrian Raditya and Andri Yadi. In addition to the prison sentence, Gibran was also fined Rp 1 billion, subsidiary to 190 days in custody. The case returned to the spotlight after Malaysian Prime Minister Anwar Ibrahim stated the eFishery case had caused losses to Malaysia’s Kumpulan Wang Persaraan (KWAP). He said KWAP was deceived by eFishery’s financial reports, leading it to invest RM 200 million, or approximately Rp 875 billion. Malaysian authorities are now seeking to recover the funds.