The inquisition and prosecution of the corruption case involving PT Asuransi Jiwasraya (Persero) are ongoing. Several of the people deemed as main perpetrators in the case were found guilty, but one person refuses to surrender. We all know Benny Tjokrosaputro denied his role in the case and decided to file lawsuits against the Supreme Audit Agency (BPK) and the Solicitor General. Benny has filed four lawsuits. The examination on the third lawsuit filed at the State Administrative Court (PTUN Jakarta) is ongoing but the lawsuit filed at the Central Jakarta District Court was denied. Benny’s attempt to appeal also failed. 

The first hearing of the trial on 13 corporate suspects in the corruption case involving State-owned insurance company PT Asuransi Jiwasraya (Persero) started on May 31, 2021. The prosecutors read unpublished details.  The case was first investigated by the Jakarta...

A lawmaker from Aceh, one Asrizal Asnawi (PAN), filed a lawsuit against several parties, including PT Pertamina (Persero) and the Minister of Energy and Mineral Resources. Asrizal accused the defendants of tort and demanded over Rp2 trillion in compensation. The issue...

It has been nearly three years since the prosecutors’ office began investigating corruption involving State-owned insurance company PT Asuransi Jiwasraya (Persero). Six people have been declared guilty since then, but the proceedings continue. On March 29, 2021 the trial of the last individual defendant one Piter Rasiman began. Piter was named a suspect when he was still president director of PT Himalaya Energi Perkasa Tbk (HADE). Two months laters, the dockets of the corporate suspects was expedited to the stage of prosecution and the first hearing of the trial is scheduled to be held today, May 31, 2021. The hearing on Piter’s case will also resume today. 

For the past year, PT Pan Brothers Tbk (PBRX) has been struggling especially due to the pandemic. The situation becomes worse when one of the executives of the company was examined as witness in the case of corruption in State-owned insurance company PT Asuransi Jiwasraya (Persero). And the fear came true. Last week a creditor, PT Maybank Indonesia Tbk (BNII), filed a lawsuit on Suspension of Debt Payment (PKPU) against Pan Brothers. Pan Brothers issued a release on May 28, 2021. 

It has been a while since the Attorney General’s Office (AGO) announced the investigation and inquisition into the allegations of corruption involving PT Asuransi Sosial Angkatan Bersenjata Republik Indonesia (familiarly known as PT ASABRI). Since then, the AGO has continued examining suspects and witnesses. It has also been aggressively confiscating the suspects’ assets. After a failed attempt to finish the dockets of the suspects, on May 27, 2021 the AGO announced that dockets of seven suspects had been completed and would be expedited to the stage of prosecution. The AGO, however, is still waiting for the report of State losses from the Supreme Audit Agency (BPK) although the AGO had started to auction off the confiscated assets. 

Nearly three months ago the Corruption Eradication Commission (KPK) confirmed the news that it was investigating a corruption case related to land acquisition in East Jakarta. The confirmation was surprising because the KPK apparently had conducted an inquisition, but decided to provide no further information. The press reported that the KPK had named four suspects in the case. The KPK did not make an official announcement until May 27, 2021. It had detained the alleged key person in the case, Yoory Corneles Pinontoan, the former president director of the Regional Public Corporation Pembangunan Sarana Jaya (PD Sarana Jaya).

Textile giant PT Sri Rejeki Isman Tbk (SRIL or Sritex) is having a rather terrible year. The last lawsuit for Suspension of Debt Payment (PKPU) against its affiliated company was granted by the Commercial Court at the Semarang District Court. Five companies in the group, including the parent company, and one affiliated company are in a temporary PKPU period. Sritex announced that it would conduct a General Meeting of Shareholders (RUPS). One of its aims is to change the Company’s business activities.

Richard Joost (RJ) Lino, the former CEO of State-owned port management company PT Pelabuhan Indonesia II (Persero) (Pelindo II) who is a suspect of corruption, lost the pre-trial battle against the Corruption Eradication Commission (KPK). The sole presiding judge of the South Jakarta District Court decided that the KPK had followed the existing procedures in handling Lino’s case and that some of Lino’s questions in the petition could not be examined in a pre-trial. The KPK can now continue its inquisition. 

The year 2020 was a frightening specter for the financial services industry in Indonesia. The COVID-19 pandemic revealed many issues and caused hundreds of disputes. One of the disputes that has attracted attention is related to Koperasi Simpan Pinjam (Kospin) Indosurya Cipta. Though the dispute settled amicably, the owner of the Company was named a suspect of fraud and embezzlement. The peace agreement was also challenged by dozens of creditors.