J Trust Bank has reported fintech lending startup Crowde to the Jakarta Metropolitan Police (Polda Metro Jaya) over alleged embezzlement of loan funds. The police report was officially filed on February 11 under the number STTLP/B/982/II/2025/SPKT/POLDA METRO JAYA.

The allegation involves fictitious loans under farmers’ names. According to J Trust Bank, random visits and interviews with farmers listed by Crowde as loan recipients revealed that some of them were unaware of ever applying for loans through the platform.

J Trust Bank had partnered with Crowde, a peer-to-peer lending platform, to distribute financing to farmers. However, an internal review by the bank found violations of their Cooperation Agreement (PKS), specifically in the distribution of loan funds.

As a result, J Trust Bank has reported Crowde’s CEO and Co-Founder, Yohanes Sugihtononugroho, along with other members of the management team, to the authorities. They face allegations of embezzlement and fraud under Article 372 in conjunction with Article 378 of the Criminal Code, as well as violations of Law Number 8 of 2010 on the Prevention and Eradication of Money Laundering (TPPU).

The reported individuals include Commissioners Adryan Hafizh and Ahmat Sahri, President Director Andrew Yeremia P. L. Tobing, Director Noviani Suryawidjaja, and Business Analyst Denisha Elmoiselle Munaf.

Crowde, which focuses on providing access to funding for farmers, has previously collaborated with banks through channeling programs. The case remains under police investigation.

PHOTO: DOK. J TRUST BANK

This article was created with AI assistance.