Judge Retracts Indictments For 13 Companies Managing Jiwasraya's Investments Because They Are Merged Into One And Make Trial Difficulty

ILLUSTRATION/BETWEEN PHOTOS

JAKARTA - The panel of judges at the Jakarta Corruption Crime Court (Tipikor) canceled the indictment against 13 investment management companies that were initially charged with corruption in the management of transactions for buying and selling financial instruments in mutual funds belonging to PT. Asuransi Jiwasraya during 2008-2018.

"Trying, accepting objections or exceptions regarding the merging of the case files of defendants 1, 6, 7, 9, 10, 12. To declare the indictment null and void, ordering the a quo case not to be examined further," said the chairman of the panel of judges IG Eko Purwanto in court Jakarta Corruption Crimes (Tipikor) quoted by Antara, Monday, August 16 evening.

The panel of judges consisted of IG Eko Purwanto as chairman of the panel of judges with the members of the panel namely Rosmina, Teguh Santosa, Sukartono and Moch Agus Salim.

The exceptions or objections were submitted by 6 investment companies, namely PT. Dhanawibawa Investment Management, which is currently PT Pan Arcadia Capital, PT. MNC Asset Management, previously known as PT. Bhakti Asset Management, PT. Maybank Asset Management, previously known as PT GMT Asset Management or PT Maybank GMT Asset Management.

Then PT. Capital Asset Management Services, previously known as PT. Prime Capital, PT. Pool Advista Asset Management previously named PT. Kharisma Asset Management and PT. Treasure Fund Investama.

In their consideration, the panel of judges considered that the cases of the 13 investment companies were not related to each other so that it would be difficult for the panel of judges to assess the actions of each defendant.

"The action of the public prosecutor who combines so many cases into one case file will make it difficult for the panel of judges to sort out each of its criminal cases, therefore it will cause enormous losses for the defendants," said judge Eko.

The panel of judges stated that the crimes charged against the 13 defendants had nothing to do with and relate to one another.

"The consequence of the separation of the defendants also resulted in the presence of each defendant being irrelevant to the other defendants, each defendant was forced to participate in the examination of other defendants and the settlement of witnesses from one defendant depended on the examination of the other defendants," added judge Eko.

This means that the panel of judges saw that the case was complicated and contrary to the principles of a simple, fast and low-cost trial.

"The merging conditions as stated in Article 141 of the Criminal Procedure Code for examination are not fulfilled so that objections or exceptions to the merger of case files submitted by defendants 1, 6, 7, 9, 10 and 12 are considered reasonable and based on law and therefore must be accepted," said Judge Eko.

Since the objection to the merger of case files was accepted, the indictment must be declared null and void by law.

"Please, the public prosecutor has the right to fight or submit the case to be split into 13 case files," said judge Eko after tapping the hammer.

Initially, the public prosecutor at the Attorney General's Office said that the actions of the 13 investment companies did not comply with the provisions of Article 15 of the Financial Services Authority Regulation Number 43/POJK.04/2015 concerning the Investment Manager Code of Conduct which states that investment managers can receive commissions, as long as the commissions are directly beneficial. for investment managers in the investment decision-making process for the benefit of the customer and not resulting in a conflict of interest with the customer and/or detrimental to the interests of the customer.

As a result of the actions of the defendants, the state suffered a total loss of Rp. 10,985 trillion.

The thirteen companies are:

1. PT. Dhanawibawa Investment Management which is currently named PT Pan Arcadia Capital

2. PT. Oso Investment Management

3. PT. Pinnacle Persada Investama

4. PT. Millennium Capital Management, previously known as PT Millennium Danatama Indonesia

5. PT. Prospera Asset Management

6. PT. MNC Asset Management, previously known as PT. Bhakti Asset Management

7. PT. Maybank Asset Management, previously known as PT GMT Asset Management or PT Maybank GMT Asset Management

8. PT. Gap Capital

9. PT. Capital Asset Management Services, previously known as PT. Prime Capital

10. PT. Pool Advista Asset Management previously named PT. Charisma Asset Management

11. PT. Corfina Capital

12. PT. Treasure Fund Investama

13. PT. Sinarmas Asset Management