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<p>Indonesian prosecutors are seeking a 10-year prison sentence for eFishery founder Gibran Huzaifah, who admitted to inflating revenues, leading to $300 million in investor losses. The trial highlights the downfall of eFishery, once valued over $1 billion, and raises concerns about regulatory oversight in Southeast Asia's venture capital markets. Prosecutors also demand fines and additional jail time for two former executives. The defense plans to present their case on April 22, with a verdict expected by the end of the month.</p>

Businesstimes News

COFC

Indonesia’s eFishery founder Gibran Huzaifah faces 10 years in jail after US$300 million meltdown

中渔集团(B0Z.SG)

Indonesia’s eFishery founder Gibran Huzaifah faces 10 years in jail after US$300 million meltdown