Investree, an Indonesian peer-to-peer (P2P) lending company, announced the departure of its president director, Adrian A. Gunadi, through an advertisement in a local paper on Wednesday.
The news confirms DealStreetAsia’s report on Gunadi’s departure on Tuesday.
“The majority shareholders of PT Investree Radhika Jaya, Investree Singapore Pte. Ltd., has agreed to dismiss Mr Adrian A. Gunadi from his position as president director of Investree, effective January 31, 2024,” the announcement on Bisnis Indonesia read.
The announcement also included a disclaimer that Investree has never, as it is not permitted to, provide collateral for loans; apply for any loans to individuals and companies; or manage funds in any form. “Investree has no legal responsibility for any documents considered as collateral for debts and receivables from irresponsible parties on behalf of Investree,” the announcement read.
The firm denied any connection with Indonesian entities with similar names such as PT Putra Radhika Investama and PT Radhika Putra Investama. Investree disowns any connection with companies other than PT Investree Radhika Jaya, Investree Singapore Pte. Ltd., Investree Philippines, Inc., Investree (Thailand) Company Limited, PT Aiforesee Inovasi Skor, and PT Sahabat Bisnis Inovasi.
The Financial Services Authority (OJK) has imposed administrative sanctions on Investree for “violating applicable provisions”.
When contacted by DealStreetAsia, Agusman, OJK’s commissioner overseeing financing firms, said the authority is auditing Investree. Agusman, who goes by one name like many Indonesians, did not share details.
With additional reporting from Gita Rossiana.