AutoTrade Gold founder Wahyu Kenzo (aka Dinar Wahyu Saptian Dyfrig), has been sentenced to ten years in prison.

Kenzo was also fined Rp. 10 billion (~640,000 USD).

Kenzo and two accomplices were arrested in early 2023. Indonesian authorities charged the scammers over operation of AutoTrade Gold, an alleged was a $582 million Ponzi scheme.

As reported by VOI, Kenzo (right), Bayu Mahardika (aka Bayu Walker) and Raymond Enovan were charged with violating

Article 106 of Law Number 7 of 2014 concerning Trade in conjunction with Article 55 paragraph 1 of the Criminal Code and Article 5 paragraph 1 in conjunction with Article 10 of Law Number 8 of 2010 concerning Prevention and Eradication of Money Laundering.

Bayu Walker was sentenced to 8 years in prison and a Rp. 6 billion fine (~$384,000 USD).

Raymond Enovan was sentenced to 4 years and six months, as well as a RP 1 billion fine (~$64.000 USD).

Kenzo was facing a maximum 46 years sentence but Yuniarti S. Yudha, Head of the Malang Public Prosecutor’s Team, stated his sentence was “in accordance with our demands.”