After escaping several times, one of the "stock market players", Benny Tjokrosaputra, became a suspect in the bribery case of a stock transaction with the state-owned insurance company, PT Asuransi Jiwasraya, local media reported today (01/14) - Photo by Hanson International

JAKARTA (TheInsiderStories) – After escaping several times, one of the “stock market players”, Benny Tjokrosaputra, became a suspect in the bribery case of a stock transaction with the state-owned insurance company, PT Asuransi Jiwasraya, local media reported today (01/14). Beside him, the attorney general’ Office also arrested former finance director of Jiwasraya, Hary Prasetyo.

“It has to do with corruption,” Tjokrosaputra’ lawyer, Muchtar Arifin at the attorney general office in Jakarta.

The commissioner of publicly listed company, PT Hanson International Tbk (IDX: MYRX) and Prasetyo are undergoing an investigation into the alleged Jiwasraya corruption case. In addition, the prosecutor also will examine other public listed firm, president commissioner of PT Trada Alam Minera Tbk (IDX: TRAM), Heru Hidayat.

So far, the attorney general’ Office has examined 34 witnesses, including head of the Indonesian Stock Exchange (IDX) official, Goklas AR Tambunan, Florida, Irvan Susandy, Adi Pratomo Aryanto, and Endra Febri Setyawan. Also, former director of PT OSO Investment Management Lies Lilia Jamin and former head of investment division of Jiwasraya, Syahmirwan.

Last year, Indonesian Financial Service Authority (FSA) has imposed a sanction to Hanson Internasional and its owner Tjokrosaputro, after the both parties has broke the capital market rule for overstatement of the company financial statements for the fiscal year 2016.

The regulator fined him for Rp5 billion (US$357,143) and the housing developer Rp500 million and was ordered by the FSA to restate the 2016′ financial statement. The decision is in line with Provisions of Article 69 of Law Number 8 of 1995 concerning Capital Markets.

Beside him as the president director, the regulator also give a sanction to its director Adnan Tabrani, who was responsible for the 2016′ financial statement of Hanson International. He has to pay the administrative penalty of Rp100 million.

Furthermore, Sherly Jokom, partner of Public Accountant Officer Purwantono, Sungkoro and Surja, part of Ernst and Young Global Limited is also responsible audit of financial statement of December 31, 2016. FSA decided her permit as an accountant office will be frozen until next year.

Hanson Internasional has various businesses in industry, general trade, service and development. The company has established since 1973 and focused on inject capital to the subsidiaries.

Previously, the Tjokrosaputro’ company, PT Rimo International Tbk (IDX: RIMO) offered 4.09 billion shares or 10 percent of fully paid up capital through private placement. The company earned around Rp629.86 billion (US$44.06 million) from the private placement.

Based on the announcement, RIMO will use the funding to repay its loan to PT Mulia Manunggal Karsa worth of Rp150 billion and some affiliated parties. The loan taken on December 2017 and has one year maturity with 6 percent interest rate.

For your information, RIMO has issued 40,59 biliion shares from previously only held 100 thousand shares. At that time, the publicly listed firm earned Rp4.1 trillion from the rights issue.

The funding was used for acquiring PT Hokindo Properti Investama (HPI) and paying some obligations and working capital of the acquired company. After acquiring HPI is increasingly focused on running its business in the property sector.

Currently, RIMO has a large land bank throughout Indonesia, especially in Java and Kalimantan. Several projects being worked on by the company is the South Hills apartment and housing project in South Jakarta.

Tjokrosaputro touted as one of the major market players in the Indonesian stock market. Where gait or soccer lunge has begun to be heard since the 1990s.

Previously, he had also litigated, and received sanctions from the Capital Market Supervisory Agency, the capital market authority at that time before become FSA was formed. He also rumored as one that can make huge profits from transactions on the stock market.

US$1: Rp14,000

by Linda Silaen, Email: linda.silaen@theinsiderstories.com