Criminal Investigation Unit Reveals Role of Former OJK Executive in Dana Syariah Indonesia Case
The Criminal Investigation Unit of the Indonesian National Police (Bareskrim Polri) has named a new suspect in the investment fraud and embezzlement case involving PT Dana Syariah Indonesia. The individual, identified as FH, is a former high-ranking official at the Financial Services Authority (OJK) during the 2017-2018 period. His role in the alleged scheme was as founder and advisor at PT DSI.
Brigadier General Ade Safri Simanjuntak, Director of Special Economic Crimes at Bareskrim, stated that FH founded and held positions in several affiliated companies, serving as Commissioner of PT MBI, President Director of PT ITM, Commissioner of PT DPL, and majority shareholder in PT BA, PT SFU, and PT SRU. FH also acted as a nominee shareholder without capital contribution in PT Dana Syariah Indonesia. He actively participated in and provided advice during meetings for PT DSI’s development, including General Meetings of Shareholders and weekly meetings.
Furthermore, FH allegedly actively sought and recommended connections or potential financiers and super lenders for PT DSI. He was reportedly aware of fictitious campaign projects uploaded to PT DSI’s website and application to attract lenders to invest their funds, and he actively participated in events organised by the company.
The naming of the suspect was based on a case review conducted on Monday, 8 June. Investigators have obtained five valid pieces of evidence to name FH as a new suspect. Ade Safri explained that FH was the founder and advisor, as well as the Director of Operations and Information Systems at PT Dana Syariah Indonesia from 2014 to 2017. FH was also recorded as having served as Director of the Digital Finance Innovation Group at OJK from 2017 to 2018. Additionally, he held the position of Director of Information Technology and Risk Management at the Indonesia Stock Exchange (IDX) from 2018 to 2022.
Investigators will summon FH for questioning as a suspect on Wednesday, 17 June at Bareskrim Polri. A travel ban has also been requested to prevent him from leaving the country. A request has been submitted to the Directorate General of Immigration to enforce the ban for 20 days starting from 8 June 2026 to 27 June 2026.
Bareskrim Polri had previously named four other suspects in this case: President Director of PT Dana Syariah Indonesia Taufiq Aljufri, former Director Mery Yuniarni, Commissioner Arie Rizal Lesmana, and Director for the 2018-2024 period Atis Sutisna.
Ade Safri stated that the fraud was allegedly perpetrated by creating fictitious projects. PT Dana Syariah Indonesia made these projects using the data of existing borrowers, fabricating the appearance that they had new projects. At least 15,000 lenders fell victim to this alleged crime, with total losses reaching IDR 2.4 trillion during the 2018-2025 period.
For their actions, the suspects are charged under Article 488 and/or Article 486 and/or Article 492 of the Criminal Code and/or Article 45A Paragraph (1) in conjunction with Article 28 Paragraph (1) of the Electronic Information and Transactions Law and/or Article 299 of the Financial Sector Development and Strengthening Law, and Article 607 Paragraph (1) points a, b, and c of the Criminal Code.