It has been four years since the public became aware of the problems experienced by various Cooperative Unions, especially those who run businesses like banks and conduct fundraising, we know that the investigation into the Kospin Indosurya case is by far the most shocking and the most disappointing. Two managers who were tried on charges of committing banking crimes, including Henry Surya, were released from charges. Although the decision had been overturned by the Supreme Court, the decision did not exactly benefit the victims. In addition to the case, the POLRI later developed the investigation and examined allegations of similar legal violations involving PT Indosurya Inti Finance (PT IIF). We have not heard of the progress since then other than that PT IIF later changed its name and restarted conducting business under new name: PT Sarana Majukan Ekonomi Finance Indonesia (PT SMEFI). This week, unfortunately, the business license provided for PT SMEFI was revoked by the Financial Services Authority (OJK). To subscribe please click here
