Ascaro Padel Reported to Regional Police for Fraud and Embezzlement of IDR 6 Billion Investment

Illustration. (Photo: Unsplash)

JAKARTA - Investors who were pitched by Ascaro Padel, a Swedish padel court brand operating under PT Ascaro Courts Jakarta and Ascaro Courts Kuala Lumpur III Sdn. Bhd., have filed a Police Report (Laporan Polisi/LP) with the Jakarta Metropolitan Regional Police (Polda Metro Jaya) alleging fraud (Article 492 of the Indonesian Criminal Code (KUHP)), embezzlement (Article 486 of the KUHP), and Money Laundering (Articles 3, 4 and 5 paragraph (1) of Law No. 8 of 2010 concerning the Prevention and Eradication of Money Laundering) in connection with the disappearance of funds amounting to IDR 6,000,000,000.- (six billion Rupiah), with no clarity provided and no realization of the padel court construction as originally promised.

Investment and Violations

In October 2025, PT Ascaro Courts Jakarta and Ascaro Courts Kuala Lumpur III Sdn. Bhd., represented by foreign nationals (WNA) Karl Daniel Liljekvist and Oscar Arrsjö, pitched an investment opportunity with a business presentation to an Indonesian citizen (WNI) investor for a padel court development project in Jakarta, specifically at Sahid Sudirman, Tanah Abang, Central Jakarta, under the branding Ascaro Padel.

The Investor was ultimately persuaded by Ascaro and subsequently transferred/deposited capital in the amount of IDR 6,000,000,000.- (six billion Rupiah) to Ascaro, which was confirmed as received based on bank validation, for the planned construction of a padel court under the Ascaro brand.

Pursuant to the Agreement between Ascaro and the Investor, Ascaro committed to completing construction 'no later than 3 (three) months' from the date the capital was deposited, specifically by the end of January 2026.

However, as of 24 April 2026 the date on which the Second Notice (Somasi Kedua) was delivered and even at the time the Police Report was filed by the Investor, construction of the Ascaro Courts padel facility had still not commenced. The results of our internal inspection concerning the court construction confirm zero activity on the part of Ascaro.

Ecalation to The Regional Police

As a result of the foregoing, the Investor, having suffered losses from the aforesaid fraud and embezzlement, sent two Warning Letters (Somasi) demanding either the return of the capital or the commencement of construction. However, Ascaro failed to respond to either notice. The company PT Ascaro Courts Jakarta was also reported not to be domiciled at its registered address. "We have attempted to communicate and pursue an amicable settlement (musyawarah); instead of receiving a good-faith response, Ascaro Padel’s attitude has been the opposite, they have remained passive and merely engaged in buying time without any clarity as to the resolution of this matter” stated Husni Farid Abdat, S.H., M.H., CLA. and Umar Musa Sembiring, S.H., CPM., legal counsel for the Investor.

Alleged Criminal Offenses

Fraud (Article 492 of the KUHP): Director Liljekvist made false representations that construction would commence within 30 days and be completed within 3 months, thereby inducing the investor to deposit capital.

Embezzlement (Article 486 of the KUHP): Ascaro has, without right, taken possession of IDR 6,000,000,000.- (six billion Rupiah) belonging to the Investor, which under the agreement was designated and to be used solely for the padel court; the failure to realize the construction of the padel court by Ascaro, together with the absence of any response or accountability regarding the return of capital after the Investor issued a Notice (Somasi) demanding a refund, constitutes embezzlement.

Article 3, 4, and 5 paragraph (1) of Law No. 8 of 2010 concerning the Prevention and Eradication of Money Laundering (the “Money Laundering Law”) : The retention of the capital and the company’s disappearance from its registered address indicate the concealment of assets and the use of the Investor’s capital for purposes other than the construction of the Ascaro padel court.

The Police Report names 4 (four) parties, namely PT Ascaro Courts Jakarta and Ascaro Courts Kuala Lumpur III Sdn. Bhd., Karl Daniel Liljekvist in his capacity as Director of both companies, and Oscar Arrsjö.

Evidence and Investigation

The Investor has submitted to the Regional Police: the original Capital Participation Agreement, proof of the capital deposit in the amount of IDR 6,000,000,000.- (six billion Rupiah), both Notices (Somasi) with proof of delivery, and a record of correspondence that went unheeded by Ascaro.

As of 28 July 2026, there has been no significant progress in the padel court development project promised by Ascaro, nor any good-faith effort toward the return of the funds.

Legal proceedings will continue before the police; the investigation to secure justice is of critical importance in this case, in order to recover the Investor’s funds and to instill confidence in Indonesia’s investment climate.

Industry Impact

"The padel industry is growing, and Indonesia is recorded as one of the fastest-growing padel markets in the region. This rapid growth must not be exploited by a handful of foreign actors seeking to take advantage of local investors” said Husni Farid Abdat, S.H., M.H., CLA. “We are confident that law enforcement will be carried out properly by Polda Metro Jaya, particularly given that this is aimed at protecting and recovering the Investor’s capital, who has become the victim.”