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Growing interest in investing among Indonesians has made them more vulnerable to online scams, experts say. (Source photos by Reuters and Takaki Kashiwabara)
Market Spotlight

Indonesia's rising appetite for online investment attracts scams

Growing middle class in ASEAN's biggest economy seen prone to being cheated

ERWIDA MAULIA and ISMI DAMAYANTI, Nikkei staff writers | Indonesia

JAKARTA -- Indra Kesuma -- better known as Indra Kenz -- never seemed to run out of ideas for how to flaunt his newfound wealth, from parading luxury cars and expensive watches to showing off supposed new mansions and proposing to his girlfriend on a yacht.

Kesuma's meteoric rags-to-riches tale captivated millions in Indonesia who followed his exploits on TikTok and YouTube. The notoriety earned him the nicknames "Sultan of Medan" and "Crazy Rich Medan," the latter a reference to the popular 2018 film "Crazy Rich Asians" as well as the biggest city on Sumatra near where he grew up.

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