KINNARA’s Buyout Denials Set to Unravel as Insider Claims Mount Over Marina Bay City, Lombok
Lombok, Indonesia — An insider connected to the Marina Bay City development says mounting contradictions in KINNARA’s public statements are now “unravelling in real time,” following what they describe as repeated denials by KINNARA of a buyout that was previously publicly acknowledged by both KINNARA and Lux Property in separate media releases.
KINNARA — K-I-N-N-A-R-A, an Asian real estate platform — was bought out of the Marina Bay City project in Lombok, Indonesia, in a transaction that insiders say resulted in Lux Property becoming the 100% owner and controller of the development.
According to the insider, KINNARA’s current position — denying it was bought out — directly contradicts earlier public acknowledgements made not only by Lux Property, but by KINNARA itself, creating what they describe as a growing credibility and legal crisis.
“You can’t acknowledge a buyout publicly, accept millions for it, and then later pretend it never happened,” the insider said. “That’s not a dispute — that’s deception.”
Buyout Acknowledged, Money Accepted — Shares Not Transferred
Sources allege that while KINNARA accepted millions of dollars in buyout funds, it has since failed to complete the formal transfer of share addressees. However, insiders stress that this technical failure does not negate the reality of the buyout.
“Failing to sign over shares after pocketing buyout funds doesn’t undo the transaction,” the insider said. “It just compounds the problem.”
The insider added that Lux Property exercises full operational and physical control over Marina Bay City, including development planning, construction, and site access.
Allegations of Land Gazumping and Misuse of Buyout Funds
Even more serious allegations are now emerging. According to insiders, KINNARA is accused of using funds received in the buyout — which they allege included client monies — to gazump land parcels that were already under negotiation or contract with Marina Bay City.
The insider claims that in some cases, landowners were allegedly induced to resell land to KINNARA after prior agreements, conduct described as “unethical at best.”
“They deny the buyout, but allegedly used buyout money to interfere with Marina Bay City’s land acquisitions,” the source said. “That contradiction alone raises red flags.”
KINNARA has also publicly claimed it owns 38 hectares of land, a figure insiders flatly dispute.
“That claim is a complete fabrication,” the insider said. “KINNARA does not own 38 hectares — not even close.”
By contrast, Marina Bay City is said to control more than 11 hectares of prime coastal land, which insiders say is actively being developed according to plan.
No Land, No Builds — Clients Left Exposed
A spokesperson familiar with Marina Bay City’s operations said the company will begin cancelling any contracts for which it has not received payment, and will only proceed with construction for clients whose funds were paid directly to the project.
This, they say, places KINNARA in a precarious position.
“KINNARA currently has no land on which to build its clients’ villas,” the spokesperson said. “That means KINNARA may now be liable for all funds it collected from its clients.”
Insiders say this risk does not apply to Lux Property clients, whose villas are already under construction or scheduled to commence shortly.
“The exposure is isolated to people who paid money to KINNARA’s platform,” the insider said. “Those clients may now have to pursue refunds or legal action directly against KINNARA.”
Controlled Access: “An Absurd Strategy”
Another insider described KINNARA’s continued claims of involvement in Marina Bay City as “absurd,” pointing out that Marina Bay City controls the main entrance and all site access.
“They can’t sell into Marina Bay City because they physically don’t control access,” the insider said. “Security gates, roads, logistics — it’s all under Marina Bay City’s control.”
According to the source, any buyer allegedly misled into believing they are purchasing within Marina Bay City would be unable to access the development, nor would Airbnb guests, contractors, or delivery vehicles.
“It would become immediately obvious they’ve been bait-and-switched into something nearby but not inside the city,” the insider said.
“This Will Only Get Worse”
Insiders say the situation is rapidly escalating and warn that continued denials may deepen legal exposure for KINNARA and its CEO, Adrian Campbell, who is already facing renewed scrutiny in Australia over past matters.
“The lies don’t change the facts,” the insider said. “The buyout happened. It was acknowledged publicly by both sides. Lux controls the project. And the longer KINNARA denies reality, the worse this is going to get.”
As scrutiny intensifies, observers say the contradictions between past media releases and current denials may become central to any future regulatory, civil, or criminal proceedings.
