Police detain former eFishery CEO who faked data
Gibran Huzaifah was detained last week by the white-collar crimes division, the police said.
He and two other former eFishery executives have remained in custody since July 31, according to a text message from Helfi Assegaf, director of special economic crimes at the National Police's Criminal Investigation Agency.
The three have been 'officially named as suspects,' according to the police, though it was unclear if any have been officially charged with wrongdoing.
Apart from Gibran, they detained and named two other suspects in the probe, Angga Hadrian Raditya and Andri Yadi.
Both are former vice-presidents and had been interviewed by internal investigators.
Gibran's detention comes months after he gave a detailed account of how he inflated revenue at a startup once valued north of US$1bil (RM4.2bil).
Its ultimate collapse dealt a blow to several of the world's highest-profile investors from SoftBank Group Corp and Temasek Holdings Pte to Peak XV (formerly Sequoia India) and Abu Dhabi's 42XFund.
The company, which deployed feeders to fish and shrimp farmers in Indonesia, incurred several hundred million dollars in losses between 2018 and 2024, Bloomberg News has reported.
EFishery, which was valued at US$1.4bil (RM5.9bil) after a 2023 funding round, had been one of the highest-profile startups to emerge from Indonesia. — Bloomberg
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