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Venture Capital on Trial: When Business Judgment Meets the Corruption Law Hammer
What Actually Happened
| # | Claim | Date | Entities | Source |
|---|---|---|---|---|
| 1 | Nico Wijaya is the former head of one of the biggest backers of Indonesian startups. | Nico Wijaya | DealStreetAsia (archived) | |
| 2 | Prosecutors have demanded an 11-year prison sentence for Nico Wijaya. | Nico Wijaya, prosecutors | Hukumonline (archived) | |
| 3 | Nico Wijaya is accused of permitting an allegedly unlawful multi-million dollar investment into the failed startup Tanihub. | Nico Wijaya, Tanihub | GlobalVenturing (archived) | |
| 4 | Tanihub was embedded in scandals involving its management's alleged misuse of venture capital funds. | Tanihub | Asia News Network (archived) | |
| 5 | Nico Wijaya’s defense team argues he simply conducted business using his business judgment. | Nico Wijaya | Hukumonline (archived) | |
| 6 | An Instagram post affiliated with Nico Wijaya states that risk and potential loss are inherent aspects of venture capital. | Nico Wijaya | Instagram (post by/affiliated with Nicko Widjaja) (archived) | |
| 7 | Observers have called this case an example of the misuse of Indonesia’s corruption laws to chilling effect. | Indonesia, corruption laws | Katadata (archived) |