Attorney General's Office Has Confiscated Assets Of Defendant Jiwasraya, Up To IDR 18.4 Trillion

Junior Attorney General for Special Crimes (Jampidsus) Ali Mukartono. (Photo: AGO)

JAKARTA - The estimated value of the confiscated assets of the accused of corruption and money laundering (TPPU) PT Asuransi Jiwasraya (Persero) has reached Rp. 18.4 trillion. This figure is greater than the calculation of state losses issued by the Supreme Audit Agency (BPK) amounting to IDR 16.81 trillion.

Junior Attorney General for Special Crimes (Jampidsus) Ali Mukartono said the assets confiscated during the investigation were deliberately exaggerated by the state's loss. Ali explained that there were a number of confiscated assets whose value was not constant. So that these efforts are to anticipate the decline in share prices in the market.

"It seems that this item is an excess of the state's financial loss. Investigators deliberately exaggerate it because there are stocks that are volatile in nature," he said during a press conference at the Attorney General's Office, Jakarta, Tuesday, July 7.

However, unfortunately Ali did not mention the several types of shares and mutual funds that were confiscated. Even so, these types of confiscated assets have a changeable value. Changes in the value of the assets of these types of stocks and mutual funds will automatically correct the estimated figures for all the confiscated assets.

Ali said, a number of fluctuations in confiscated assets that had decreased in value reached hundreds of billions. This is because the price of confiscated shares experienced a drastic drop in price.

"Yesterday alone, there was a loss of Rp 700 billion against these confiscated shares," he said.

Later, Ali said, after the confiscated assets were proven to be the proceeds of crime, they would be confiscated to be returned to the state to compensate for losses.

"State institutions as victims, in this case are BUMN or Jiwasraya. However, the good intentions of these fellow investigators must ultimately fulfill the rights of the customers," he said.

Ali said that one of the suspects from the corporation, PT Sinar Mas Asset Management, handed over Rp74 billion. This is a refund in the second phase which was previously given in the first phase amounting to Rp 3 billion from a total of Rp 77 billion.

"This money can later be calculated as the fulfillment of state financial losses when the assets confiscated by investigators decrease during the court decision," he explained.

The assets, said Ali, were dominated by the ownership of the six Jiwasraya defendants, who are currently on trial. They included Benny Tjokrosaputro, Heru Hidayat, Joko Hartono Tirto, Hendrisman Rahim, Hary Prasetyo, and Syahmirwan.

Then, other confiscated assets, also came from a number of returns, and blocking accounts of the 13 suspect investment managers. Another suspect in this case, namely Fakhri Hilmi, a senior from the Financial Services Authority (OJK).

Previously, Attorney General Sanitiar Burhanuddin asked mutual fund investors not to worry after 13 investment managers (MI) were named as suspects in the alleged corruption case that ensnared the state-owned insurance company.

Burhanuddin said that the legal process that was ongoing during the investigation of the dozens of MI corporations was only related to the management of mutual funds and investments from Jiwasraya. Each mutual fund portfolio managed by the corporation is broadly separated from one product to another. Thus, it does not mean that the company is caught in the Jiwasraya case affecting other mutual fund products.

For information, here are 13 investment manager corporations that have been named as suspects:

1. DMI (PT Danawibawa Investment Management or Pan Arkadia Capital)

2. OMI (PT OSO Investment Management)

3. PPI (PT Pinacle Persada Investasi)

4. MD (PT Milenium Danatama)

5. PAM (PT Prospera Aset Manajemen)

6. MNCAM (PT MNC Aset Manajemen)

7. MAM (PT Maybank Aset Manajemen)

8. GC (PT GAP Capital)

9. JCAM (PT Jasa Capital Aset Manajemen)

10. PA (PT Pool Advista)

11. CC (PT Corfina Capital)

12. TII (PT Trizervan Investama Indonesia)

13. SAM (PT Sinarmas Aset Manajemen)