TaniHub Case: Four Venture Capital Executives Sentenced to 2-5 Years in Prison

JAKARTA, KOMPAS – Four defendants in the corruption case involving the management of investment funds by PT Metra Digital Investama (PT MDI Ventures) and PT BRI Ventura Investama (PT BVI/BRI Ventures) into the TaniHub Group have been found guilty and sentenced to between two and five years in prison. The venture capital executives were proven to have invested without data validation, without audited financial reports, and in violation of prudential principles. These actions resulted in state financial losses amounting to 25 million US dollars, or approximately Rp 364 billion.

Although found guilty, the prison sentences handed down by the panel of judges were far lower than the prosecutors’ demands, which sought 9 to 12 years of imprisonment. One mitigating factor, according to the panel of judges, was that the defendants had made long-term, beneficial contributions to Indonesia’s digital innovation ecosystem. Furthermore, no flow of corrupt funds to the defendants was found.

The four defendants are former MDI Ventures President Director Donald Surjana Wihardja, former BRI Ventures President Director Nicko Widjaja, former MDI Ventures Vice President of Investment Aldi Adrian Hartanto, and former BRI Ventures Vice President of Investment William Gozali.

The verdict hearing was held at the Jakarta Corruption Court on Thursday (18/6/2026). The session was presided over by Chief Judge Teddy Windiarto, accompanied by two member judges, Christina Endarwati and Jaini Basir.

The panel of judges declared that the defendants had been legally and convincingly proven guilty of committing a joint act of corruption, as stated in the primary indictment of the public prosecutor. The indictment in question involved violating Article 603 of Law Number 1 of 2023 concerning the Criminal Code in conjunction with Article 18 Paragraph (1) letter b of Law Number 31 of 1999 concerning the Eradication of Corruption, as amended by Law Number 20 of 2001, in conjunction with Article 618 of Law Number 1 of 2023 concerning the Criminal Code in conjunction with Article 20 letter c of Law Number 1 of 2023 concerning the Criminal Code.

For Donald Surjana Wihardja, the panel of judges imposed a sentence of 5 years in prison and a fine of Rp 750 million, with a subsidiary of 165 days of confinement. Nicko Widjaja was sentenced to 3 years in prison and a fine of Rp 350 million, with a subsidiary of 90 days of confinement. Aldi Adrian Hartanto and William Gozali were each sentenced to 2 years in prison and a fine of Rp 250 million, with a subsidiary of 90 days of confinement.

“The period of detention already served by the defendants shall be fully deducted from the imposed sentence, and the defendants shall remain in custody,” the judge stated while reading the verdict.

The verdicts handed down by the panel of judges were lower than the prosecutors’ demands. Previously, in the corruption case concerning the management of a total investment fund of 25 million US dollars by MDI Ventures and BRI Ventures into the TaniHub Group during the 2019-2023 period, prosecutors had sought prison sentences of 12 years and fines of Rp 1 billion each for former MDI Ventures CEO Donald Wihardja and former MDI Ventures Vice President of Investment Aldi Adrian Hartanto. Prosecutors also demanded that former BRI Ventures CEO Nicko Widjaja be sentenced to 11 years in prison, while former BRI Ventures Vice President of Investment William Gozali faced a demand of 9 years. Both were also required to pay fines of Rp 1 billion each.

In its legal considerations, the panel of judges stated that the state losses incurred in the corruption case involving the management of investment funds by PT MDI Ventures and PT BRI Ventures into PT Tani Group Indonesia and its affiliates from 2019 to 2023 reached 25 million US dollars, or around Rp 364 billion. The loss resulted from the disbursement of investments to TaniHub, with details including an initial Series A+ disbursement from PT BVI of 2 million US dollars, a second Series C disbursement from PT BVI of 3 million US dollars, and a disbursement from PT MDI of 20 million US dollars.

According to the panel of judges, the corruption occurred due to a specific and complementary division of tasks among the defendants, who ignored due diligence procedures. Nicknamed Nicko and Donald, who served as directors with long track records in investment, should have possessed the expertise and obligation to carry out adequate due diligence standards. Instead, the defendants approved the disbursement of investment funds without a proper due diligence process and not in accordance with guidelines.

“Considering that materially, the defendants’ actions contradicted the prudential principle, propriety, and professional standards that should have been upheld by a president director,” the judge stated while reading the legal considerations for defendant Nicko Widjaja.

Furthermore, the investment funds, which should have been used for expansion, opening new warehouses, services, technology needs, and general requirements, were not utilised for those purposes. In fact, all investment funds were diverted to provide business capital to third parties. The TaniHub Group also did not purchase products directly from farmers but from distributors, causing operational costs to balloon.

According to the panel of judges, the defendants’ actions enriched several parties, namely Ivan Arie Sustiawan by Rp 2.29 billion, Edison Tobing by Rp 92.89 million, and PT Tani Grup Indonesia by 25 million US dollars, equivalent to Rp 364 billion. The funds were subsequently said to have flowed to a number of entities.