BEI to investigate Elnusa ‘missing funds’

An official at the Indonesian Stock Exchange (BEI) says the bourse supervisory body plans to look into allegations of corruption behind oil and gas firm Elnusa's "missing funds" in Bank Mega.

The bourse also wants to investigate the origins of the Rp 111 billion placed in a Bank Mega deposit account, BEI company monitoring director Eddy Sugito said Monday. He added that Elnusa officials would be summoned to seek for thorough explanation.

“We are currently studying the origins of that money, so we can ascertain whether it was gained through corruption,” Eddy said Monday as quoted by kompas.com.

He added that if later on they found that the source of Rp 111 billion was questionable, they would submit the case to police for further investigation.

Elnusa, a publicly listed company and a unit of state oil and gas firm PT Pertamina, reported indications of embezzlement earlier last week involving Rp 111 billion (US$ 12.87 milion) of the firm’s funds allegedly kept at the Bank Mega Jababeka branch in Cikarang, Bekasi.

One of the Elnusa directors and the head of Bank Mega’s Jababeka branch have already been questioned by police in relation to the case.