Five years ago, the former chairman of Indonesia Bank Restructuring Agency (IBRA/BPPN), Syaf Temenggung, was named a suspect by the Corruption Eradication Commission (KPK) for the issuance of release and discharge letter to tycoon Sjamsul Nursalim (Gajah Tunggal Group) related to the infamous Bank Indonesia liquidity support (BLBI). Three years later, Syaf was dramatically released and the investigation into Nursalim was dismissed. The Government ramped up its efforts in 2021 with its target being the Texmaco group. The Government initially staged the seizure of nearly 600 assets belonging to the conglomerate. The Government forced Marimutu Sinivasan, who has been absent from the public for more than two decades, to appear and defend himself. Sinivasan filed a lawsuit, however, the court decided that the lawsuit cannot be accepted towards the end of last year. Recently, we learned that a different party filed a lawsuit against Sinivasan and several other familiar names.
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