Attorney general named deputy commissioner of Financial Services Authority, Fakhri Hilmi, and 13 companies as the new suspect of corruption case at state-owned insurance firm, PT Asuransi Jiwasraya, said the spokesman today - Photo by FSA Office

JAKARTA (TheInsiderStories) – Attorney general named deputy commissioner of Financial Services Authority (FSA), Fakhri Hilmi, and 13 investment managers as the new suspect of corruption case at state-owned insurance firm, PT Asuransi Jiwasraya, said the spokesman today. The companies had contributed Rp12.16 trillion (US$868.57 million) of the total financial loss Rp16.81 trillion.

“One suspect from the Financial Services Authority on behalf of FH, served as head of the capital market supervision department during 2014 – 2017. Appointed (to be) deputy commissioner since 2017 – present,” the spokesman, Hari Setiyono told reported as quoted by local media.

He added, the corporations were also charged under the article money laundering, while Hilmi only subject to the article of corruption. The companies are PT Dana Wibawa Investment Management, PT Oso Investment Management, PT Pinekel Persada Investment, PT Millenium Danatama, and PT Prospera Asset Management.

Then, PT MNC Asset Management, and PT Maybank Asset Management, PT GAP Capital, PT Jasa Capital Asset Management, PT Corvina Capital, PT Iserfan Investama, PT Sinar Mas Asset Management, and PT Pool Advista Management.

Earlier, the attorney general has alleged president director of PT Hanson International Tbk (IDX: MYRX) Benny Tjokrosaputro, president commissioner of PT Trada Alam Mineral Tbk (IDX: TRAM) Heru Hidayat, and finance director of Jiwasraya, Hary Prasetyo, as the suspect of the bribery cases in the insurance firm.

The law enforcer has set Tjokrosaputra became a suspect in the bribery case of a stock transaction in Jiwasraya. Beside him, the attorney general’ office also arrested Hidayat, former finance director of Jiwasraya, Hary Prasetyo, and examined 34 witnesses, including Indonesian Stock Exchange’ officials, former director of PT OSO Investment Management, Lies Lilia Jamin, and former head of investment division of Jiwasraya, Syahmirwan.

Jiwasraya experienced a failure to pay for the JS Saving Plan insurance product which will mature in the fourth quarter of 2019 with a value of Rp12.4 trillion and this year have the potential lift to Rp16 trillion.

The JS Saving Plan is an investment-wrapped life insurance product offered through banks also known bancassurance. The product have a guaranteed return of 9 – 13 percent during 2013 – 2018 with a disbursement period every year.

US$1: Rp14,000

Written by Staff Editor, Email: theinsiderstories@gmail.com