The Financial Services Authority (OJK) has approved the formation of a liquidation team for PT Investree Radika Jaya, a peer-to-peer (P2P) lending platform. This follows OJK’s review of three proposed candidates for the team. Agusman, Head of Financial Services Regulation, said the company must hold a General Meeting of Shareholders (RUPS) to finalize the liquidation decision.

Investree, which was hit by a series of financial issues, now faces the challenge of resolving its obligations. According to OJK, the liquidation team will handle all responsibilities, including paying off outstanding debts to employees and investors. Meanwhile, Adrian Asharyanto, the CEO of Investree, has been named a suspect in a criminal investigation related to financial misconduct. He is also on the police's wanted list.

Since October 2024, OJK revoked Investree's operating license, a move aimed at protecting investors from further financial loss. M. Ismail Riyadi from OJK emphasized that this was necessary to prevent more harm to the public. He also urged Investree to fulfill its obligations to the lenders and other stakeholders as per the law.

The case became public when several lenders complained about their unpaid investments. At least 16 lenders filed lawsuits accusing Investree of defaulting on their agreements. One lender, Dessy Andiwijaya, shared that her investment of 74 million had not been repaid in nearly two years, despite some partial payments.

Similarly, Dessy’s brother, David Andiwijaya, was also affected, with Rp 164 million still unpaid. Despite a few attempts to repay, the issue remains unresolved. These unresolved claims highlight ongoing concerns about the risks and challenges facing the fintech sector.

The liquidation of Investree is a critical issue for the P2P lending industry, raising questions about business sustainability and risk management in the sector. OJK has pledged to continue cooperating with law enforcement agencies to ensure that the liquidation process complies with all legal requirements and that affected parties receive proper compensation.

SOURCE: KOMPAS | PHOTO: TEMPO/SUBEKTI