Nadiem: My wealth in the LHKPN increased because GoTo's stock price rose

JAKARTA - The defendant Nadiem Anwar Makarim stated that his wealth in the form of an increase in the value of securities in the State Organizer Wealth Report (LHKPN) in 2022 was Rp. 4.8 trillion purely because the price of GoTo shares soared when listing on the exchange (IPO) to a price range of Rp. 250 to Rp. 300 per share.

"My wealth has only one main source, namely my share value in PT Aplikasi Karya Anak Bangsa (PT AKAB)," said Nadiem when reading the note of objection alias objection in the trial at the Corruption Court at the Central Jakarta District Court, Monday, January 5, reported by ANTARA.

In 2023, when GoTo's share price range fell to around Rp100 per share, Nadiem said, his total wealth also fell sharply to Rp906 billion.

Then in 2024, when the GoTo stock price range fell again to Rp70 to Rp80 per share, Nadiem's wealth also fell back to Rp600 billion.

"Anyone with a calculator can calculate my wealth because it is based on one number, namely the price of GoTo shares that are open to the public," he said.

For this reason, the Minister of Education, Culture, Research, and Technology for the period 2019-2024 argued that the indictment explaining that Rp809.59 billion was received by him and had become his wealth based on the LHKPN in 2022, was confusing.

The reason is that the indictment notes the acquisition of property in the form of securities of IDR 5.5 trillion.

Nadiem admitted that he was confused because in one part of the indictment he said he received a flow of funds, but another part of the indictment presented evidence that enriching himself was an increase in securities.

"Is the accusation that I received money or received a security letter? I am confused," he said.

Thus, he assessed that the indictment was not accurate because it did not explain in full the source of his wealth, which could be easily obtained from tax reporting.

On the other hand, according to Nadiem, the indictment does not explain the relationship between the transaction of Rp809.59 billion and the report on his wealth.

"Because in fact there is no relationship. Again, this indictment is not clear and not careful because it does not contain causality between one fact and another fact," said Nadiem.

Nadiem's appeal was submitted for the alleged corruption case of the education digitization program in the form of the procurement of Chromebook laptops and Chrome Device Management (CDM) in the Ministry of Education and Culture in 2019-2022. In that case, he was accused of corruption that had harmed the state's finances worth Rp. 2.18 trillion.

Corruption, among others, was carried out by carrying out the procurement of learning facilities based on information and communication technology with laptops Chromebook and CDM for the 2020, 2021, and 2022 fiscal years not in accordance with the procurement planning and procurement principles.

The alleged act was carried out together with three other defendants who have been tried, namely Ibrahim Arief alias Ibam, Mulyatsyah, and Sri Wahyuningsih, as well as Jurist Tan, who is currently still at large.

In detail, the losses caused by the state include Rp1.56 trillion related to the education digitization program at the Ministry of Education and Culture, as well as 44.05 million US dollars or the equivalent of Rp621.39 billion due to the procurement of CDM that is not necessary and not useful in the education digitization program.

With this act, Nadiem is suspected of having received money amounting to IDR 809.59 billion originating from PT AKAB through PT Gojek Indonesia.

It is stated that most of PT AKAB's money comes from Google's investment of US$786.99 million.

This can be seen from Nadiem's wealth which is recorded in the LHKPN in 2022, namely there is an acquisition of property in the form of securities worth IDR 5.59 trillion.

For his actions, the former Minister of Education and Culture is threatened with a criminal penalty as stipulated in Article 2 paragraph (1) or Article 3 in conjunction with Article 18 of Law Number 31 of 1999 concerning Eradication of Corruption as amended and supplemented by Law Number 20 of 2001 jo. Article 55 paragraph (1) of the Criminal Code.