Issued by Magnum Estate International ·
Published 29 January 2026 · Denpasar
MAGNUMESTATE.COM, DENPASAR, Magnum Estate International (MEI) provides an official clarification regarding the latest legal developments related to The Umalas Signature project, following the verdict issued by the Denpasar District Court. This press release is issued as part of Magnum Estate International’s commitment to transparency, investor protection, and the provision of accurate information to partners, clients, and the wider public.
Court verdict and legal position
On January 20, 2026, the Denpasar District Court delivered its verdict in Case Number 901/Pid.B/2025/PN.DPS concerning allegations of fraud and embezzlement related to The Umalas Signature project. In its ruling, the court stated that the alleged actions were factually proven, but concluded that they did not constitute a criminal offense under criminal law (onslag van recht vervolging). This verdict differs from an acquittal: the court acknowledged that the actions occurred and met the elements of the charges, but determined that they were not subject to criminal punishment. Following the decision, the Public Prosecutor officially filed an appeal to the Denpasar High Court on January 27, 2026. Magnum Estate International fully supports the prosecutor’s appeal and respects the ongoing legal process.
Background of the case
Magnum Estate International, a foreign investment company founded in 2021 by Stanislav Sadovnikov and Igor Maximov, became involved in The Umalas Signature project after identifying the stalled development during the COVID-19 period. Through a legally notarized Cooperation Agreement (Perjanjian Kerja Sama/PKS) signed in December 2021, PT Samahita Umalas Prasada (SUP) was granted the right to manage and develop the land into the project. In June 2022, Magnum Estate International acquired 100 percent of the shares of PT Samahita Inti Prasada (SIP), the parent company of SUP, for a total transaction value of Rp14 billion, with full payment completed in June 2023. Disputes later arose when the former partner allegedly failed to formalize the transfer of shares despite payment being completed.
Civil case status
Separately, a civil lawsuit seeking to annul the Cooperation Agreement was declared inadmissible by the court on January 14, 2026 due to procedural deficiencies. This decision reaffirmed that the Cooperation Agreement remains legally valid and that The Umalas Signature project is lawfully managed under PT Samahita Umalas Prasada in cooperation with Magnum Estate International.
Commitment to investors and the Indonesian market
Magnum Estate International reiterates its strong commitment to protecting investor interests, completing projects responsibly, and operating in full compliance with Indonesian law. The company believes that legal certainty is a cornerstone of a healthy investment climate and remains confident in Indonesia’s legal system. Magnum Estate International is a Bali-based real estate developer and Indonesia’s first digital real estate developer, focusing on transparent, structured and internationally compliant property development.
For further information, contact Magnum Estate International, Website: magnumestate.com; Email: sales@magnumestate.pro; Phone: +62 815 5866 8888.
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About Magnum Estate International
Magnum Estate International is a Bali-based real estate developer and Indonesia’s first digital real estate developer, managing premium projects for domestic and international investors with a focus on transparency and legal compliance.