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 alleged misappropriation on 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 series of incidents forced the Government to ramp up its efforts in 2021 by establishing the Satgas BLBI and with its first target being the Texmaco group. The Government initially staged the seizure of nearly 600 assets belonging to the conglomerate which eventually forced Marimutu Sinivasan, who has been absent from the public for more than two decades, to appear and defend himself. Sinivasan initially filed a lawsuit, however, the court decided that the lawsuit cannot be accepted towards the end of 2022. Last year, a different party filed a lawsuit against Sinivasan and several other familiar names, the lawsuit was withdrawn. Since then, things are going pretty quiet, too quiet even, that makes us wonder if there is any progress at all. Instead of progress, last weekend the public was shocked by the news from immigration who successfully arrested Sinivasan who allegedly tried to escape to Malaysia via a land route in Entikong. Sinivasan is now 87 years old.
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