Police Seize Offices and Land Worth Rp300 Billion in Islamic Finance Fraud Case
Indonesia’s Special Economic Crime Directorate (Dittipideksus) under the National Police Criminal Investigation Unit has seized multiple assets valued at Rp300 billion in a fraud case involving PT Dana Syariah Indonesia (DSI). The seizure represents efforts to recover losses for victims (lenders) spanning the period 2018–2025.
Brigadier General Ade Safri Simanjuntak, head of Dittipideksus, stated that investigators have optimised asset tracing and asset recovery efforts, and have seized assets believed to be connected to criminal proceeds in this case.
The seized assets belong to three suspects currently in detention: DSI Chief Director Taufiq Aljufri, former DSI Director Mery Yuniarni, and DSI Commissioner Arie Rizal Lesmana. The assets include both moveable and immoveable property, receivables, and cash.
The seized assets include luxury properties and extensive land holdings across several regions, together with cash held in numerous bank accounts. Specifically, the property and land assets comprise: DSI’s offices at Prosperity Tower (Units A, B, and J) in South Jakarta’s SCBD, a shophouse in Buncit, 11,576 square metres of land in Bekasi, 5.3 hectares of land in Bandung, and 4,480 square metres of land in Deli Serdang. Additionally, 683 property rights certificates (SHM/SHGB) were seized. The authorities also froze 31 bank accounts totalling Rp4 billion, 13 deposit accounts worth Rp18.8 billion, and seized cash valued at Rp2.15 billion.
Investigators estimate the total value of secured assets at approximately Rp300 billion. Asset tracing will continue to be pursued vigorously against potential additional suspects and against DSI as a corporate entity to maximise victim compensation efforts.
Investigators are actively coordinating with the Financial Services Authority (OJK) and the Witness and Victim Protection Agency (LPSK) to collect and verify victim numbers and loss amounts. Plans include opening a complaint channel by LPSK for DSI case victims to facilitate restitution requests.
According to Ade Safri, the fraud was perpetrated by DSI through the creation of fictitious projects. The company used data from existing borrowers and falsely represented them as possessing new projects. This fraud affected approximately 15,000 victims with total losses reaching Rp2.4 trillion during the 2018–2025 period.
The three suspects face charges under Articles 488, 486, and/or 492 of the Criminal Code, Article 45A(1) in conjunction with Article 28(1) of the Information and Electronic Transactions Law, and Article 299 of the Financial Services Sector Development and Strengthening Law, as well as Article 607(1)(a, b, and c) of the Criminal Code. They are also charged with money laundering offences in relation to fund distribution from the public conducted by DSI using fictitious projects based on existing borrower data or information.