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Jakarta Post

Bekasi Police arrest four 'millennial' loan officers for fraud

  • News Desk

    The Jakarta Post

Jakarta   /   Wed, January 30, 2019   /   01:46 pm
Bekasi Police arrest four 'millennial' loan officers for fraud A stock photograph illustrates criminal arrest. The Bekasi Police have arrested four employees of a local finance loan company for embezzling Rp 314 million in fraudulent loans. (Shutterstock/-)

Four employees reportedly siphoned Rp 314 million (US$22,000) from the finance loan company they worked for in Bekasi, West Java, doctoring the ownership documents of stolen vehicles that they used as collateral.

Bekasi Police chief Comr. Parjana said that the four employees, all in their 20s, purchased the vehicle ownership documents (BPKB) of stolen vehicles on Facebook. “They applied for loans by using the BPKBs as collateral and forging the owner's identity [using their own names],” Parjana said on Tuesday as quoted by kompas.com.

The police did not release the names of the four employees or their company.

The perpetrators could easily “borrow” the money for their personal use, as they managed loans at the company. Parjana said the four had committed the loan fraud over three months and split the money equally.

“To cover up their fraud, they paid the installments [on the loan] once in a while, so that the company would think it was just a regular transaction,” he added.

The company's management began smelling something fishy about some loan accounts and eventually discovered that 35 fictional customers had taken out loans. 

The fraud incurred Rp 314 million in losses for the company.

The Bekasi Police arrested the four employees, and confiscated 35 loan applications as well as 35 doctored BPKBs.

The four employees have been charged under Articles 378 and 373 of the Criminal Code, which  carry maximum punishments of respectively four years and five years in prison. (vla)