Indonesian VC executives jailed for graft over failed startup investment
Crime
Verdicts seen as roiling financing ecosystems in Southeast Asia’s largest economy
Former CEO of MDI Ventures Donald Wihardja, left, and former CEO of BRI Ventures Nicko Widjaja after they were convicted of corruption and sentenced to jail in Jakarta on Thursday over their companies’ investments in failed Indonesian startup Tanihub. (Photos by Mira Maruto and Rezha Hadyan. Image partially edited)
JAKARTA — Four former executives of two Indonesian state-owned venture capital firms were convicted of corruption and jailed for between two and five years on Thursday for investing $25 million in an agricultural startup that went bust.
