Jakarta Prosecutor Names New Suspect in KoinWorks Credit Corruption Case

The Jakarta High Prosecutor’s Office (Kejati DKI) has officially named and detained a new suspect, identified by the initials LHL, who serves as the Beneficial Owner of PT RMS. This development is part of an ongoing investigation into alleged corruption involving the disbursement of fictitious credits through the financial technology (fintech) platform KoinWorks between 2020 and 2024.

Dapot Dariarma, Head of the Legal Information Section at Kejati DKI, stated in Jakarta on Wednesday that LHL is an entrepreneur from Malang, East Java. He is suspected of orchestrating the manipulation of credit applications to a Jakarta-based bank via the KoinWorks platform. LHL allegedly used nominees—specifically employees of PT RMS, including both former and current staff—to submit these fraudulent applications.

The funds obtained from the disbursed credits were reportedly misappropriated and used for purposes other than their intended use. For investigative purposes, the Jakarta High Prosecutor’s Office has ordered the detention of LHL for 20 days, effective from Tuesday. LHL is currently being held at the Malang Class I Prison and will be transferred to the Cipinang Detention Centre in East Jakarta.

The designation of LHL as a suspect is an expansion of a previous investigation that implicated three high-ranking executives from PT LAT, the parent company of the KoinWorks fintech. Members of that group allegedly facilitated unlawful financing based on invalid feasibility analyses. The scheme involved manipulating collateral in the form of invoices and intentionally failing to secure insurance, leading to credit disbursements totalling approximately Rp600 billion.

To date, investigators have seized several assets, including cash exceeding Rp14 billion. The prosecution is continuing to investigate the potential involvement of internal parties at the Jakarta bank and other customers who participated in the credit manipulation. Investigators are also examining witnesses and state financial experts, while conducting asset tracing to maximise the recovery of state financial losses.

LHL faces charges under Articles 603 or 604 in conjunction with Article 20 of Law Number 1 of 2023 (the New Criminal Code), as well as Article 18, Paragraph (1) of Law Number 31 of 1999, as amended by Law Number 20 of 2001 on the Eradication of Corruption Crimes.