Expert on Land and Property Law of Indonesia | as featured by Kompas.com, Bisnis Indonesia and The Jakarta Post

Cipaganti, Oh Cipaganti

I believe many heard about the success story of Cipaganti. Everybody can see that it was a smart move in entrepreneurship. The type of business that was established inspired others to think creatively on setting up or doing their businesses.

I personally read and see that Cipaganti's business was getting better along the years. They have proven their track records in maintaining the quality of service. They have won many awards. One can see clearly that the business is improving and they also started to expand to other business fields, even to taxi. The optimism was there and people look to the founder and the business for their inspiration.

Not long after the criminal investigation was commenced, I just read an interview of Cipaganti's founder and also its chairman, of what he has done and his secrets to build his company and its reputation. It was a good read and inspiring.

The alleged criminal offense was related to the misuse or mismanagement of public investment fund that was given or managed through a cooperative. I remembered that the investment scheme was published and offered. Even I myself was interested to invest. It was thus surprising to see that the amount of fund that has allegedly been misused was so huge. In trillion. Something is wrong.

I just read the news in Kompas today that several members of Cipaganti are convicted to imprisonment and fines. Understand that it is not final and binding, since the decision was appealed. But it is very rare or hard where the higher court will overturn the lower court's decision.

I just hope that despite problems faced by top management and founders, the company is still running well. The people need it and it is for the good of the people.

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