The Core Issues Surrounding KoinP2P: From Loan Defaults to Alleged Corruption

JAKARTA, KOMPAS.com - The online lending (pindar) or fintech peer-to-peer lending (P2P lending) industry has once again come under scrutiny following the detention of three executives from PT Lunaria Annua Teknologi (KoinP2P) by the Jakarta High Prosecutor’s Office (Kejati) last Wednesday.

The fintech, a subsidiary of PT Sejahtera Lunaria Annua (KoinWorks), has indeed been facing operational issues since the end of 2024.

In brief, KoinP2P’s problems began with payment defaults due to borrower fraud and have escalated into a corruption case involving internal management.

The three suspects designated are BAA (Operational Director of KoinP2P from 2021 to present), BH (President Director of KoinP2P from 2015-2022 and Commissioner of KoinP2P from 2022 to present), and JB (President Director of KoinP2P from 2024 to present).

The three suspects have been detained since last Wednesday for the next 20 days at the Cipinang and Salemba detention centres in Jakarta.

This case relates to alleged criminal acts of corruption in credit facilities from a bank (one of which is said to involve funds from PT Bank Rakyat Indonesia Tbk (BBRI) amounting to approximately Rp 600 billion).

The three individuals are suspected of colluding to disburse financing from BRI by manipulating customers.

Head of the Legal Information Section of the Jakarta Kejati, Dapot Dariarma, stated that the three colluded to disburse funds to customers with improper analysis and manipulation of collateral.

“And disbursing financing unlawfully from PT BRI (Persero) to several customers by manipulating collateral in the form of invoices and failing to close insurance, thus enabling the disbursement of credit worth around Rp 600 billion,” Dapot said in a written statement on Thursday (7/5/2026).

Previously, KoinP2P’s operational issues had surfaced from the end of 2024 to early 2025 due to suspected fraud by one of the large loan recipients (borrower) or ecosystem distributor.

KoinP2P’s payment defaults were caused by alleged crimes by one borrower with initials M, owner of the MPP business group.

That borrower is suspected of absconding with the funds of the lenders.