Former Director General Of Budget Of The Ministry Of Finance Faced The Initial Session Of Allegations Of Jiwasraya Corruption Today

The Director General of Budget at the Ministry of Finance Isa Rachmatarwata (medium) wore a prison vest after being questioned at the Attorney General's Office, Jakarta, Friday (7/2/2025) (ANTARA)

JAKARTA - The Director General of Budget at the Ministry of Finance's inactive Isa Rachmatarwata will face the first trial of the alleged corruption case of PT Asuransi Jiwasraya in the period 2008' 2018, at the Corruption Court at the Central Jakarta District Court, Tuesday, August 26.

Central Jakarta District Court spokesman Andi Saputra said in the case, Isa Rachmatarwata at that time was still the Head of the Insurance Bureau at the Bapepam-LK (Modal Market Supervisory Agency and Financial Institution) for the 2006-2012 period.

"This case is still continuing with Jiwasraya from the state administrator cluster," Andi said when confirmed in Jakarta, Tuesday, August 26.

He revealed that today's inaugural trial will have an agenda for reading the indictment by the public prosecutor.

The inaugural trial will be chaired by Chief Justice Sunoto, accompanied by member judges, namely Dennie Arsan Fatrika, Ni Kadek Susantiani, Mardiantos, and Alfis Setiawan.

Previously, the Attorney General's Office revealed that the determination of the suspect in Isa Rachmatarwata was based on the report on the results of the investigation examination in the context of calculating state losses on the use of finance and investment funds in PT Jiwasraya for the 2008 '2018) period, with the alleged loss incurred of around Rp. 16.8 trillion.

In that case, Isa allegedly agreed to insurance products when the company went bankrupt. After being approved by Isa, the insurance products were marketed, and the funds obtained were placed in the form of stock and mutual fund investment, but were carried out without applying good governance principles or good corporate governance and investment risk management.

It is known that there are transactions that are not reasonable for several stocks, including IIKP, SMRU, TRAM, LCGP, MYRX, SMBR, BJBR, PPRO, and several other shares that are carried out either directly or through investment managers who manage mutual funds, resulting in a decrease in the portfolio value of stock and mutual funds investment assets so that Jiwasraya suffered losses.

Therefore, Isa Rachmatarwata is suspected of violating Article 3 in conjunction with Article 18 of Law Number 31 of 1999 concerning the Eradication of Criminal Acts of Corruption as amended by Law Number 20 of 2001 jo. Article 55 paragraph (1) of the 1st Criminal Code (KUHP).