Alleged Fictitious Projects Rp100 Billion, Director Of FAB Indonesia Finance Reported To Police
Polda Metro Jaya received a report from PT Fantastic Anak Bangsa Indonesia (FAB Indonesia) against its financial director who is still active in alleged criminal acts of falsifying company documents, fraud, and abuse of authority.
One of the Directors and shareholders of FAB Indonesia, Iwa Kustiwa, said that this legal step was taken after an internal investigation was carried out by the ranks of shareholders and the company's financial audit team.
"I and all FAB shareholders have become victims of abuse of authority from the person concerned with the disbursement of this fictitious project fund," he said in Jakarta, Tuesday, October 28.
Iwa said that internal investigations began in April 2025, after in January 2025, two senior employees reported to the board of directors and commissioners regarding alleged serious financial deviations committed by the Director of Finance.
Based on the results of internal investigations strengthened by data, statements from key witnesses, as well as information from the financier (lender), FAB Indonesia found strong indications that the Finance Director acted as the main controller in the disbursement scheme of funds from alleged fictitious projects worth more than Rp100 billion.
According to Iwa, the Director of Finance also plays a similar role in all subsidiaries in the FAB group. Meanwhile, related to allegations of this practice being carried out systematically and repeatedly since early 2023, creating pseudo cash flows that significantly burden the company's finances and all its subsidiaries.
"The trust and power that we give him as a financial expert to lead his entire team has been abused," said Iwa.
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Currently, the company and the authorities are still tracing the flow of funds that have entered the company's account and are managed by the Director of Finance.
FAB Indonesia President Director Fritz Bonny L. Tobing added that the impact of the alleged financial manipulation reached its peak in March 2025, when the company experienced a severe liquidity crisis that failed to pay employee salaries. He said this condition triggered a wave of massive resignations and shook the company's reputation.
"We see an attempt to cover up a crime by creating a narrative that divides and attacks shareholders and other directors. The goal is to bring down the Indonesian FAB and run away from responsibility, without thinking about its impact on clients, creditors and employees," said Fritz.
Furthermore, it was found that the 2023 financial audit report had never been finalized. For various reasons, the Director of Finance continues to postpone the independent audit process which should clarify the company's financial condition. In addition, the person concerned also closed communication.
As part of the integrity recovery measure, the Indonesian FAB is now preparing an independent forensic audit by professional institutions to trace all the flow of funds for the 2023-2024 period, both in the parent company and its subsidiaries.
"We take this legal step after going through careful consideration, as a form of our responsibility and commitment to provide clarity and justice for all stakeholders," said Fritz