Gibran and Initial C Reported to Police, Here’s the Latest News on eFishery

Jakarta, CNBC Indonesia –The top brass of aquaculture startup eFishery has been reported to the police amid allegations of fraud. The report was even submitted last year

The Directorate of General Crimes (Dittipidum) of the Criminal Investigation Unit of the National Police admitted that it is still investigating the eFishery case which has received public attention after the alleged falsification of financial reports by the founder and former CEO, Gibran Huzaifah, was revealed.

Head of Public Relations of the National Police Public Relations Division, Brigadier General Trunoyudo Wisnu Andiko, said that the report on behalf of Gibran and the person with the initials C had been made since 2024.

“The report has been made since 2024. Initially, at the beginning of the year, namely around March, March, April, and May. Then the Criminal Investigation Unit also received the report, it was also at the Metro Police,” he said when met at his office, quoted on Tuesday (11/2/2025).

In addition, the case is also being investigated by related institutions, namely the Financial Services Authority (OJK).

“So the report has been made, some are at the investigation and investigation stages,” he added.

As a follow-up, Bareskrim-Polri will later hold a joint title. Because there are several reports that have been received, both reports at Polda Metro, Mabes-Polri Barreskrim, and OJK.

“Later there will be a joint title between Bareskrim with Polda Metro Jaya and OJK. Of course that’s what we can convey,” he concluded.

Falsification of eFishery Financial Reports

Based on documents received by CNBC Indonesia, the company that has achieved unicorn status through Series D funding of US$ 200 million in 2023 has two different financial report books, namely external and internal.

Based on external reports, eFishery posted a pre-tax profit of IDR261 billion during the period January-September 2024. In fact, the internal report version shows that eFishery actually lost IDR578 billion in the same period.

From 2021 to 9 months in 2024, eFishery’s external report showed positive and stable pre-tax profit growth. In contrast to the internal report which showed that the company continued to lose money since 2021. The worst loss in 2022 was IDR784 billion. Then in 2023 it was IDR759 billion.

Worse, these two books began in 2018 with the involvement of executives, so that the fraud committed was systemic.

The same document mentions several names who are suspected of actively managing double financial reports, including Gibran and Angga Hadrian. Meanwhile, co-founder Crisna Aditya is said to be one of the people who knows about the double financial reports.

SOURCE : CNBC INDONESIA