Reported 25 days ago
Indonesian authorities have detained Gibran Huzaifah, the co-founder of eFishery, alongside two former executives as part of an investigation into allegations of financial misconduct. The startup, which once held a valuation exceeding $1 billion, faced significant losses and was found to have inflated its revenue figures. The detentions follow a board investigation revealing severe discrepancies between reported and actual earnings, leading to a collapse affecting multiple high-profile investors.
Source: YAHOO