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).
It is important to note that 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 as part of upholding justice and legal certainty.
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 Umalas Signature project. Magnum Estate International later entered into an operational cooperation agreement to market the project internationally.
In June 2022, Magnum Estate International acquired 100 percent of the shares of PT Samahita Inti Prasada (SIP), the parent company of SUP, with a total transaction value of Rp14 billion. The full payment was completed in June 2023.
Subsequently, disputes arose when the former partner allegedly failed to formalize the transfer of shares despite payment being completed. According to Magnum Estate International, this situation led to operational disruptions, restricted access to the project site, and actions that negatively affected investors and business operations.
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 will continue to cooperate with law enforcement authorities, respect all legal processes, and uphold transparency as part of its long-term dedication to sustainable development in Bali and Indonesia.
About Magnum Estate International
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. The company manages and develops premium real estate projects for domestic and international investors, while actively supporting national development initiatives, including projects in Bali and Indonesia’s new capital, Nusantara.
For further information, please contact:
Magnum Estate International
Website: https://magnumestate.com/
Email: sales@magnumestate.pro
Phone: +62 815 5866 8888
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