Crazy Rich Surabaya Budi Said Sentenced To 15 Years In Prison For Corruption And Money Laundering Cases

JAKARTA - Entrepreneur Budi Said, known as Crazy Rich Surabaya, was sentenced to 15 years in prison after being found guilty in a corruption case and money laundering (TPPU) related to the sale and purchase of gold from PT Antam Tbk.

In addition to the prison sentence, Budi was also subject to a fine of Rp. 1 billion with the provision of a subsidiary of six months in prison. He was also required to pay compensation of 58.841 kilograms of Antam's gold or equivalent to Rp. 35.53 billion, with the threat of a subsidiary of 8 years in prison if he was unable to pay.

"The panel of judges declared Budi Said legally and convincingly guilty of committing a criminal act of corruption and money laundering together and continuing, according to the first primary indictment and the second primary indictment," said Chief Judge Tony Irfan in a verdict hearing at the Jakarta Corruption Court (Tipikor) on Friday, as quoted by ANTARA.

The verdict states that Budi violated 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 by Law Number 20 of 2001, in conjunction with Article 55 paragraph (1) 1 in conjunction with Article 64 paragraph (1) of the Criminal Code, as well as Article 3 of Law Number 8 of 2010 concerning the Prevention and Eradication of the Crime of Money Laundering.

In imposing the sentence, the panel of judges considered several aggravating and mitigating factors. The aggravating factor is Budi's action which causes losses to the state and enriches himself and other parties.

On the other hand, mitigating factors include Budi's unprecedented track record, his cooperative attitude during the trial, and his responsibilities towards his family.

This verdict is lighter than the prosecutor's demand for a 16-year prison sentence, a fine of Rp1 billion, a subsidiary of six months in prison, and a replacement payment of 58.13 kilograms of Antam's gold worth Rp35.07 billion and an additional 1,136 kilograms of Antam's gold worth Rp1.07 trillion, with a subsidiary threat of 8 years in prison.

This case stems from allegations of corruption in Antam's gold transaction, where the state suffered losses of up to Rp1.07 trillion. Budi is claimed to have received a difference of more than 58.13 kilograms of Antam's gold worth Rp35.07 billion, which was not recorded in the sales invoice and without payment to Antam.

In addition, based on the decision of the Supreme Court Number 1666 K/Pdt/2022 dated June 29, 2022, there was a shortage of 1,136 kilograms of Antam's gold handover which was Budi's obligation to PT Antam.

In addition to corruption, Budi was also found guilty of money laundering by disguising the proceeds from illegal gold transactions. The modus operandi used includes utilizing the proceeds of corruption as capital in CV Bahari Sentosa Alam.