JAKARTA - The National Police's Corruption Eradication Task Force (Kortastipidkor) announced the results of handling the case of alleged corruption in the provision of invoice financing facilities for coal procurement projects by PT Perusahaan Pengelola Aset (PPA). This case is estimated to have caused a loss of state finances of up to Rp. 38 billion.
Head of Operations of the National Police's Corruption Prevention and Eradication Agency, Kombes Pol. Ahmad Yusuf Afandi, stated that the figure for state losses referred to the Report on the Results of the Investigation of the Indonesian Financial Supervisory Agency (BPK).
The National Police has named 3 suspects.
In the disclosure of this case, the investigators of the National Police's Corruption and Crime Investigation Unit have named three suspects who are from the PT PPA party and the PT Bintang Abadi Sampurna (BAS) work provider/partner.
The three suspects are:
IT - Investment Manager (Investment Manager) PT PPAFSN - Head of Operations Division PT BASFH - Director of PT BASModus Operandi and Misappropriation of Funding
Kombes Pol. Ahmad Yusuf Afandi explained that this case began when PT PPA provided invoice financing facilities with an initial ceiling of IDR 50 billion to PT BAS. However, in the process, the realization of the disbursement of funds actually swelled to reach IDR 67.31 billion which was disbursed in eight stages.
From the results of the investigation, a number of serious modes and irregularities were found during the financing process, including:
Neglect of Due Diligence Test: Failure to carry out due diligence and risk analysis adequately. Fictitious Documents: Verification of the validity of the invoice document is not carried out. Guarantee Violations: Ignoring the requirements for cash collateral. Account Engineering: Alleged account engineering was found to be used as the basis for the disbursement of funds.Seized Assets of IDR 14.4 Billion for State Recovery
As part of efforts to recover state financial losses (asset recovery), the National Police investigators have seized a number of assets belonging to the suspects. The assets seized are land and buildings spread across several regions, including Medan, Bogor, Bekasi, Samarinda, and Sidoarjo.
The estimated value of the assets that were successfully confiscated is currently estimated at Rp. 14.4 billion.
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