The verdict of 3 Petro Energy executives is appreciated by the KPK: LPEI credit facilities are not in accordance with the purpose

JAKARTA - The Corruption Eradication Commission (KPK) appreciates the verdict handed down by the Jakarta Corruption Court Panel of Judges against three senior executives of PT Petro Energy.

The verdict in the trial on Tuesday, December 16, proved the actions of the three of them who did not utilize the provision of credit facilities from the Indonesian Export Financing Agency (LPEI) according to the purpose so as to cause state losses.

"That the three defendants, namely Newin Nugroho as President Director of PT Petro Energy; Susy Mira Dewi Sugiarta as Director of PT Petro Energy, and Jimmy Marsin as President Commissioner of PT Petro Energy and beneficiary of PT Petro Energy, were found to be legally and convincingly proven guilty of committing corruption together and continuing," said KPK spokesperson Budi Prasetyo to reporters through a written statement, Wednesday, December 17.

"The KPK expresses its appreciation for the decision of the panel of judges at the Central Jakarta District Court," he continued.

Budi said the KPK believed from the beginning that the criminal acts committed by the three of them together with the LPEI party. First, there was an effort to facilitate the credit granting process for PT Petro Energy.

"There is an agreement to give kickbacks of 1 percent of the loan ceiling to parties in the LPEI," he said.

Then, LPEI did not conduct a truth check on the use of credit. In fact, the company was not eligible for a loan facility.

"PT PE uses a fictitious contract, namely by falsifying purchase order and invoice documents which are the underlying disbursement of this facility. PT PE also carried out window dressing on its Financial Statements," explained Budi.

"PT PE also did not use the credit facility in accordance with the purpose and allocation as stated in the credit agreement with LPEI," he continued.

The use of the credit, said Budi, was actually used to pay debts to pay installments of KMKE I as well as bridging finance or loans to affiliated companies through the placement of shares, positions, and positions of Jimmy Masrin.

As previously reported, three defendants in the alleged corruption case related to the provision of credit facilities by the Indonesian Export Financing Institution (LPEI) in the 2015-2018 period were sentenced to prison terms of 4 years to 8 years.

President Director of PT Petro Energy, Newin Nugroho, was sentenced to 4 years in prison; Petro Energy Director, Susi Mira Dewi Sugiarta, was sentenced to 6 years in prison; and Petro Energy's Chief Commissioner, Jimmy Masrin, was sentenced to 8 years in prison.

"The defendants have been proven legally and convincingly guilty of committing corruption crimes together and continuing as the first indictment of the public prosecutor," said Presiding Judge Brelly Yuniar Dienpadasidang reading the verdict at the Corruption Court at the Central Jakarta District Court, Tuesday, December 16, reported by ANTARA.

In addition to imprisonment, the three defendants were also sentenced to a fine of Rp. 250 million each, with the provision that if not paid, it will be replaced (subsider) for 4 months of imprisonment.

For Jimmy, the panel of judges also imposed an additional penalty in the form of payment of compensation for state losses in the amount of 32.69 million US dollars, in addition to 4 years in prison.

For their actions, the three defendants were charged with being guilty under Article 2 paragraph (1) in conjunction with Article 18 of Law (UU) Number 31 of 1999 concerning the Eradication of Corruption Crimes as amended and supplemented by Law Number 20 of 2001 jo. Article 55 paragraph (1) of the Criminal Code jo. Article 64 paragraph (1) of the Criminal Code.