KPK Prosecutor Calls Taspen Corruption The First Case To Slice With The Capital Market

Head of the KPK Public Prosecutor's Task Force (Kasatgas) Greafik Loserte who handled the PT Taspen (Persero) fictitious investment corruption case. (Tsa Tsia-VOI)

JAKARTA - The fictitious investment corruption case of PT Taspen (Persero) is said to be the first case in the Corruption Eradication Commission (KPK) to intersect with the capital market. This condition is said to provide its own challenges in the evidentiary process.

This was conveyed by the Head of the KPK Public Prosecutor's Task Force (Kasatgas) Greafik Loserte who handled the PT Taspen (Persero) fictitious investment corruption case.

"As short as we have a career at the KPK, this is the first time corruption intersects with the capital market," Greafik said at the KPK's Merah Putih building, Kuningan Persada, South Jakarta, Wednesday, October 15.

Greafik said that this condition had opened a new discourse regarding the handling of alleged fictitious investment corruption. He said that the defendant's attorney often argued that this case should not be a criminal act of corruption (tipikor) but contrary to the Law on the Capital Market.

"So, this case of PT Taspen's fictitious investment corruption can be a lesson. Well, this is a challenge in itself," he said.

"The KPK handles cases with those intersecting with the capital market so that we can provide information to the public that corruption can occur anywhere. Including corruption that occurs in the capital market sector, in the investment sector," continued Greafik.

As previously reported, the Jakarta Corruption Court Panel of Judges sentenced him to 10 years in prison in connection with the alleged fictitious investment case at PT Taspen in 2019. This case was tried by the chairman of the panel of judges Purwanto S. Abdullah with judges members Sunoto and Mulyono Dwi Purwanto.

"Kosasih has been legally and convincingly proven guilty of committing a criminal act of corruption together as the primary indictment of the public prosecutor," said Chief Judge Purwanto Abdullah when reading the verdict of the panel of judges at the Corruption Court at the Central Jakarta District Court, Monday, October 6.

The panel of judges in their decision stated that Kosasih was proven to have harmed state finances amounting to Rp1 trillion.

In addition to imprisonment, Kosasih, who in this case was declared to have committed corruption while serving as Investment Director of PT Taspen in 2019 was sentenced to a fine of Rp. 500 million. If he is unable to pay, he will be replaced with a subsidiary with imprisonment for 6 months.

Furthermore, Kosasih was also sentenced to additional penalties in the form of payment of replacement money amounting to Rp29.15 billion; 127,057 US dollars (US); 283,002 Singapore dollars; 10 thousand euros; 1,470 Thai baht; 30 British pounds; 128 thousand Japanese yen; 500 Hong Kong dollars; 1.26 million Korean won; and Rp2.87 million.

"In the event that the defendant does not have sufficient assets to pay the replacement money, he will be replaced with imprisonment for 3 years," said the presiding judge.

For his actions, Kosasih was found guilty as stated in Article 2 paragraph (1) in conjunction with Article 18 of Law Number 31 of 1999 concerning the Eradication of Criminal Acts of Corruption as amended and supplemented by Law Number 20 of 2001 jo. Article 55 paragraph (1) 1st of the Criminal Code.

Before passing the verdict, the Panel of Judges considered the actions carried out using a complex and structured modus operandi involving various parties and used a layered transaction scheme to hide traces, as aggravating the verdict against Kosasih.

In addition, other burdensome acts considered, namely Kosasih, as Investment Director of PT Taspen at that time, should be an example in applying the principles of prudence and good corporate governance, actually abusing the authority for personal interests.

Kosasih's actions are also considered to have reduced public confidence in the management of the State Civil Apparatus (ASN) pension fund and the governance of State-Owned Enterprises (BUMN) in general and contrary to laws and regulations in eradicating corruption.

The Panel of Judges also assessed that Kosasih's actions broadly involve ASN pension crimes that depend on Old Age Savings (THT) funds for life in old age. "The defendant also did not seek to voluntarily return state losses."