Stories from Bandung · Indonesia

Bandung District Court fined E-Fishery CEO Gibran Huzaifa $58,000 for falsifying accounts at the Indonesian agri-tech startup. A board investigation revealed the company may have inflated accounts over several years.

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.