Former Investree CEO Adrian Gunadi Sentenced to 3 Years in Prison for Illegal Investment Case
Former Investree CEO Adrian Asharyanto, also known as Adrian Gunadi, has been sentenced to three years in prison after being found guilty in an illegal investment case.
“Sentencing the defendant Adrian Asharyanto to imprisonment for 3 years,” read the judge’s ruling, as seen on the South Jakarta District Court’s case tracking system on Tuesday (18/8/2026).
The case had previously caused a stir because Adrian was abroad. He was an international fugitive before finally being repatriated in 2025 and tried this year.
Adrian was also fined Rp 500 million. If the fine is not paid, the defendant’s assets may be seized and auctioned.
“If the seizure and auction of the convicted person’s assets or income is insufficient to pay the fine or is not feasible to carry out, then the unpaid fine shall be replaced with 140 days’ imprisonment,” the judge stated.
The verdict was handed down by a panel of judges chaired by Eman Sulaeman, with members Sulistiyanto Rokhmad Budiharto and Isabela Samelina. The sentence is lighter than the prosecution’s demand of five years’ imprisonment and a Rp 500 million fine.
In their indictment, prosecutors said Adrian and his associate Alan Perdana Putra used PT Putra Radhika Investama to collect and manage public funds without authorisation from the Financial Services Authority (OJK). They allegedly did so to rescue themselves from unpaid obligations to members of the public who had placed funds in PT Radhika Persada Utama, using a scheme called a ‘superlender’ programme. This programme combined investors in PT Radhika Persada Utama whose receivables had not been settled into a single entity with a minimum placement of Rp 10 billion, presented as a safe investment product with relatively high interest of 3–4% per month.
“A statement letter from PT Investree Radhika Jaya would also be issued to serve as a corporate guarantee, and an insurance policy would be arranged as collateral for the investment, so that lenders felt confident and attracted to invest because they also knew the defendant Adrian Asharyanto as Director of PT Investree Radhika Jaya. However, all actions of the defendant Adrian Asharyanto together with PT Putra Radhika Investama were never recorded in the books of PT Investree Radhika Jaya. Moreover, PT Investree Radhika Jaya had never cooperated with other companies to collect funds,” the prosecutor said.
They used three bank accounts for transactions. Total funds collected up to January 2023 reached more than Rp 2 trillion. Prosecutors said the defendants’ actions were carried out without OJK authorisation.
“PT Radhika Persada Utama and PT Putra Radhika Investama never received a mandate from PT Investree Radhika Jaya to collect funds from the public. Instead, on the initiative of witness Alan Perdana Putra together with defendant Adrian Asharyanto, PT Radhika Persada Utama and PT Putra Radhika Investama were used to collect funds from the public, which were then used to meet working capital needs and manage non-performing loans for the sustainability of PT Investree Radhika Jaya,” the prosecutor said.
“The number of lenders gathered by witness Alan Perdana Putra together with defendant Adrian Asharyanto Gunadi, also known as Adrian Asharyanto, at PT Putra Radhika Investama consisted of individuals and companies. The lender funds have not yet been repaid by PT Putra Radhika Investama,” the prosecutor continued.
In addition to Adrian, the judge also handed down a three-year prison sentence to Alan Perdana Putra. He was also fined Rp 500 million, with a subsidiary sentence of 140 days’ imprisonment.