JAKARTA — A court in Indonesia delivered a guilty verdict Tuesday against Nadiem Makarim, the 41-year-old co-founder of technology firm Gojek and a former education minister, convicting him on corruption charges and sentencing him to 10 years behind bars.
Makarim has firmly denied any wrongdoing, arguing that the case brought against him was politically motivated. That claim has drawn backing from academics and human rights advocates.
The conviction could deal another blow to investor confidence in Indonesia, which has already seen its currency and stock market fall this year. Credit ratings agencies have cut their outlooks for the country, citing concerns over unpredictable policymaking and governance. Meanwhile, index provider MSCI is currently considering whether to downgrade Southeast Asia’s largest economy over concerns about market transparency.
