Kresna Life Owner Michael Steven Arrested, OJK Chief Speaks Out

Jakarta - The Financial Services Authority (OJK) has spoken out regarding the repatriation of Michael Steven, the owner of Kresna Life, a suspect in cases of capital market crime, fraud, embezzlement, and money laundering (TPPU). Ogi Prastomiyono, Chief Executive of Insurance, Guarantee and Pension Fund Supervision at the OJK, stated that the matter is still being handled by the police. However, the OJK is urging Michael Steven to fulfil the rights of Kresna Life customers. “We hope MS fulfils his obligation to pay compensation to Kresna Life policyholders,” Ogi told CNBC Indonesia on Tuesday (23/6/2026). Previously, the Indonesian National Police, through its International Relations Division, successfully repatriated the Interpol Red Notice fugitive, Indonesian citizen Michael Steven, from the Kingdom of Morocco via an extradition mechanism. Michael is the owner of the Kresna Life group. This was explained by the Secretary of NCB Interpol Indonesia at the Police International Relations Division, Brigadier General Dr. Untung Widyatmoko, S.I.K., M.H., as quoted from the division’s official website on Monday (22/6/2026) evening. According to him, this success was the result of cooperation between the Police International Relations Division, the Ministry of Law, the Ministry of Foreign Affairs, the State Intelligence Agency, and the authorities of the Kingdom of Morocco. Michael was previously arrested by Moroccan Police on 12 March 2026 at the request of the NCB Interpol Indonesia. The Government of the Kingdom of Morocco subsequently granted the extradition request submitted by the Indonesian Government on 12 June 2026. The suspect handover process was carried out on 20 June 2026 in Morocco, before he finally arrived in Indonesia on Sunday (21/6/2026). Michael Steven is a suspect in the alleged capital market crime, fraud, embezzlement, and money laundering case involving Kresna Life, handled by the Directorate of Special Economic Crimes at Bareskrim Polri. The case allegedly caused investor losses reaching approximately Rp337.4 billion. Michael will subsequently be handed over to the Directorate of Special Economic Crimes at Bareskrim Polri to undergo further legal proceedings.