OJK Uncovers Fraud Case Involving Indonesian P2P Lending Company, Here's the Chronology
Jakarta, CNBC Indonesia - A peer-to-peer lending company named PT Crowde Membangun Bangsa (PT CMB) has been caught committing fraud, leading to it being hauled before the courts by the Financial Services Authority (OJK).
This fraud case also implicates YS, who serves as the company’s CEO and shareholder.
Since the beginning of this year, OJK has actually completed the investigation process into the PT CMB case. OJK investigators have carried out Phase II handover, namely the submission of suspects and evidence to the Public Prosecutor at the South Jakarta District Prosecutor’s Office on 7 January 2026. This step was taken after the case file was declared complete (P.21) by the Public Prosecutor.
The case emerged following suspicions of criminal acts in financing and banking services business conducted between January 2023 and September 2024. The modus operandi used included submitting false data to the authorities and manipulating company bookkeeping records.
In its supervisory process, OJK discovered shocking facts regarding irregular fund flows. OJK detected false recordings related to the disbursement of funds from lenders to dozens of partners that apparently never existed.
“OJK found suspected false recordings of lender fund disbursements to 62 fictitious partners reported in OJK’s Central Fintech Lending Data System (PUSDAFIL), as if those partners had received loan funds,” OJK stated in its official remarks at the end of January 2026.
The handling of this case was carried out through a long and tiered law enforcement process. Before entering the investigation realm, OJK had undertaken a series of steps from routine supervision, special examinations, to finally designating PT CMB and YS as suspects.
For these actions, the suspects are charged with violating several articles in Law Number 4 of 2023 on the Development and Strengthening of the Financial Sector (UU P2SK). The penalties facing the suspects are severe, both in terms of physical imprisonment and financial fines.
“The suspects are charged with violating Article 299 paragraph (1) letter a in conjunction with Article 118 paragraph (1) of the UU P2SK related to financing services business and banking criminal provisions. The suspects face a maximum prison sentence of 15 years and a maximum fine of Rp200 billion,” OJK emphasised.
Previously, the suspects had filed a pre-trial lawsuit at the Central Jakarta District Court to challenge their suspect status. However, the judge rejected all the requests on 26 January 2026, thereby declaring the entire investigation process conducted by OJK legally valid.
OJK reaffirms its commitment to consistently maintaining the integrity of the financial services sector through close cooperation with the Indonesian National Police and Prosecutor’s Office. This firm step is expected to provide maximum protection for the public and financial services institutions from illegal practices.