TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
Your letters: Facts in Century saga
Case of the Century: Budi Mulya, a defendant in the Bank Century graft case, listens to the courtâs decision during a hearing on July 16, 2014
Change Size
Case of the Century: Budi Mulya, a defendant in the Bank Century graft case, listens to the courtâs decision during a hearing on July 16, 2014. The court sentenced him to 10 years in prison.(JP/Awo) (JP/Awo)
C
span class="inline inline-center">Case of the Century: Budi Mulya, a defendant in the Bank Century graft case, listens to the court's decision during a hearing on July 16, 2014. The court sentenced him to 10 years in prison.(JP/Awo)
I refer to an article titled 'KPK may name further suspects in Century case' (The Jakarta Post, June 30).
After unraveling certain reports on the Bank Century saga, I found the following:
That the Financial Sector Stability Committee (KSSK), chaired by then finance minister Sri Mulyani Indrawati with members including then Bank Indonesia governor Boediono, met to declare Bank Century a failure and took it over ' the first such move since the 1997-1998 crisis. Subsequently, on July 25, 2009, during a deliberation of the crisis bill, the government inadvertently disclosed to the legislature the swelling of the Bank Century bailout, which totaled Rp 6.76 trillion (US$817 million) and was eventually paid out by LPS in 2008 ' without the knowledge of the finance minister.
The decision was based on fears that a collapse may pose a systemic threat to the country's entire banking sector.
Financial Transactions Reports and Analysis Centre (PPATK) chairman Yunus Husein said: 'there are at least 17 recipients who benefited illegally from the Century bailout funds including institutions and individuals'.
It now rests in the hands of the Corruption Eradication Commission (KPK) as to how it will indict the 17 beneficiaries and how the stolen money will be returned to the government.
Luwanto
Jakarta
