Indonesia revoked TVI Express's business license on September 21, 2011, after the company failed to comply with regulatory demands. The Indonesian Investment Co-ordinating Board (BKPM) reported TVI Express to the Criminal Investigation Police Headquarters, accusing three stakeholders of illegal actions that harmed consumers.
BKPM immediately froze TVI Express's business activities in the country. The board found the company's operations did not align with its issued travel agent license. TVI Express had previously claimed status as a foreign entity with prior BKPM approval.
However, BKPM sent TVI Express a letter in June, stating the company's activities did not correspond with its license. The letter gave TVI until the end of July to respond. The company did not reply.
BKPM then moved to revoke the license and reported the firm to authorities. Goenarni Goenawan, Director of TVI Express Indonesia and a 41 percent stakeholder, faces accusations. Ni Komang Suratiningsih, holding a 10 percent stake, and Tharun Trikha, a 49 percent stakeholder, are also accused. These individuals are charged with committing illegal actions that hurt Indonesian consumers.
Indonesian investors lost an estimated $2.6 million to TVI Express. The accused individuals are not expected to face charges in Indonesia. TVI Express has since moved its operations to the Philippines.