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Former IBRA chairman named suspect in Victoria Sekuritas cessie case
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Suspected – The former chairman of the now defunct Indonesian Bank Restructuring Agency, Syafruddin Arsyad Temenggung, attends a questioning session at the Corruption Eradication Commission (KPK) office in Jakarta in 2011. (Tempo/Zulkarnain)
T
he Attorney General’s Office (AGO) has named the former chairman of the now defunct Indonesian Bank Restructuring Agency (IBRA), Syafruddin Arsyad Temenggung, a suspect in a cessie agreement related with security firm PT Victoria Sekuritas International (VSI).
“Yes, he [Syafruddin] has been named a suspect in a cessie contract case at IBRA,” AGO spokesperson Muhammad Rum said as quoted by kompas.com on Friday.
The AGO’s investigation into the case started in the middle of 2015. Syafruddin is the first suspect in the case.
Rum said there was solid evidence to name Syafruddin a suspect. “He was named a suspect on Sept.21.”
Three other people have been named suspects: IBRA credit analyst Harianto Tanudjaja, VSI director Rita Rosela and VSI commissioner Suzana Tanojo. Travel bans have been issued for Rita and Suzana.
The case began after PT Adistra Utama secured a Rp 469 billion (US$35.91 million) loan from a state-owned bank to build a residential compound on a 1,200-hectare plot of land in Karawang, West Java.
During the 1998 monetary crisis, PT Adistra Utama defaulted on the loan, while the bank was included in IBRA’s restructuring program. The bank’s assets, including non-performing loans, were auctioned off. They included PT Adistra Utama’s loan, which was purchased by PT VSI for Rp 26 billion
When PT Adistra Utama attempted to buy back the loan, including the land as the collateral, PT VSI set the price at Rp 2.1 trillion, which prompted the former to proceed with a legal case under the suspicion that there had been manipulation.(ebf)
