Gibran Huzaifah, co-founder and former CEO of eFishery, along with Angga Hadrian Raditya, former vice president of corporate finance and investor relations, have been sentenced to nine years in prison after a district court found them guilty in a fraud case related to the enbattled aquaculture startup.
Andri Yadi, vice president of artificial intelligence of Internet of Things and culti-financing, has been handed a seven-year sentence.
The Bandung District Court Class IA Special handed out the verdicts on Wednesday after separate hearings that lasted just over one hour each. The final sentences were lower than those sought by prosecutors, who had demanded 10 years for Gibran and Angga and eight years for Andri.
The court also ordered the three accused to pay a fine of 1 billion rupiah ($57.7 million), with a subsidiary penalty allowing authorities to seize assets if the fine is not paid. If the confiscated assets are insufficient, the fine may be replaced with an additional custodial sentence of up to 190 days.
The court said it had examined evidence presented throughout the trial to establish the facts of the case before applying relevant legal provisions.
The judges said Gibran’s actions had caused financial losses of approximately 69.47 billion rupiah ($4.05 million) to PT Multidaya Teknologi Nusantara, identified as the victim.
Gibran has been under house detention since July 31, 2025, a period that will be taken into account in his sentence.
Following the verdict, Gibran said he is considering filing an appeal within seven days, in line with Indonesian legal procedures.
“I ask for prayers from all parties so that justice can be upheld,” he said after the hearing, urging younger entrepreneurs to be more cautious in dealing with investors. “If investors push for something, it’s better to think it through carefully.”
His legal team also expressed disappointment with the ruling and said they are considering challenging the decision through the appeals process.
Angga and Andri are also likely to appeal against the verdict.
