There Was No Discussion Of The Jiwasraya Case At The BPK And KPK Meeting

Meeting between KPK and BPK. (Wardhany Tsa Tsia / VOI)

JAKARTA - The Supreme Audit Agency (BPK) has denied any discussion about the PT Asuransi Jiwasraya policy default case with five leaders of the Corruption Eradication Commission (KPK) during a closed meeting.

This rebuttal was conveyed by the Chairman of BPK Agung Firman Sampurna. According to him, this meeting discussed more about the cooperation between the two institutions.

"Regarding Jiwasraya, I have told you that we will explain tomorrow and it will not be included in the discussion with the KPK," Agung told reporters at a press conference at the Lobby of the BPK Tower Building, Jalan Jenderal Sudirman, Central Jakarta, Tuesday, January 7.

Meanwhile, KPK chairman Firli Bahuri refused to talk about Jiwasraya because this case had already been handled by other law enforcers, namely the Attorney General's Office. In addition, he had also heard that the BPK had conducted an audit to determine the amount of losses in the case.

"Earlier I heard from the Chairman of the BPK, that the BPK has provided assistance regarding the calculation of losses in the Jiwasraya case," he said while saying the anti-corruption agency encouraged the Attorney General to work optimally to resolve the case.

Previously reported, Jiwasyara's liquidity shortage began to appear from customer reports in October 2018, where the state-owned insurance company was forced to postpone payment of policy obligations that were due. Payment of the policy that is due is related to the bancassurance product, with a value of IDR 802 billion.

Special Staff of the Minister of BUMN for Public Communication, Arya Sinulingga, said that one of the causes of Jiwasraya's financial collapse was the result of the wrong investment placement. Jiwasraya invests part of its managed funds in "fried" stocks to gain cash.

Fried stock is a term for stocks whose prices go up and down in a short time and are triggered by issues, not based on the company's fundamental performance. Thanks to the fast ups and downs of a rollercoaster, fried stocks are able to bring in crispy profits in no time. Conversely, the losses incurred can be multiplied if you misread the direction of the market.

For this reason, the Ministry of BUMN has brought this matter to the Attorney General's Office to examine the investment policies chosen by Jiwasraya's management. The Ministry of BUMN also assesses that there is a product that offers higher benefits compared to other products in this insurance.

To facilitate the investigation of this case, the Directorate General of Immigration at the Ministry of Law and Human Rights has also prevented 10 names related to the alleged corruption case at PT Asuransi Jiwasraya (Persero). The ten people who have taken preventive measures have the initials HR, DA, HP, NZ, DW, GL, ER, HD, BT, AS.

According to the Head of Subdivision of Public Relations at the Directorate General of Immigration at the Ministry of Law and Human Rights, Sam Fernando, the letter requesting a precaution from the Attorney General's Office was received as of December 26, 2019 and is valid for the next six months.