Indonesian Startup CEO Sentenced To Prison
Gibran Huzaifa, CEO of an embattled agriculture startup in Indonesia, was sentenced to nine years in jail by the Bandung District Court. The sentencing follows a multi-million dollar scandal involving the company. Huzaifa was also ordered to pay a $58,000 fine. The case has been described as a high-profile scandal within the sector. The Bandung District Court found Gibran Hozaifa, CEO of an Indonesian agri-tech startup, guilty of falsifying accounts. The startup previously received funding from SoftPank, Singapore's Temasek Holdings, and Abu Dhabi's 42X fund. The investigation revealed the company inflated accounts over several years. Hozaifa was sentenced to nine years in prison and fined $58,000.
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Sources · 7 independent
CNA938 Singapore
“the founder of an embattled agriculture startup in Indonesia has been sentenced to nine years in jail following a high-profile multi-million dollar scandal”
CNA938 Singapore
“CEO Gibran Huzaifa was also fined $58,000 by the Bandung District Court.”
CNA938 Singapore
“The Bandung District Court found him guilty of falsifying accounts at his startup. The startup deployed feeders to fish and shrimp farmers throughout Indonesia.”
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