Jiwasraya met with trouble when it was unable to pay matured policies worth Rp 12.4 trillion (US$892.2 million). The policies were supposed to be paid off in December this year.

Investigators have questioned 89 witnesses but are yet to name any suspects. The travel ban for the 10 people was issued on Dec. 17.

“That is correct, [they] could potentially be named suspects,” Burhanuddin said at the Attorney General’s Office in Jakarta on Friday, kompas.com reported.

He said his office had cooperated with the immigration office to enforce the ban, which came into effect on Dec. 26 and will remain in place for six months.

Some of Jiwasraya’s former directors have reportedly flown overseas to avoid investigation.

Former Jiwasraya president director Hendrisman Rahim reportedly flew to Madrid, while former financial director Hary Prasetyo reportedly flew to London.

Jiwasraya has faced close scrutiny by the Financial Services Authority (OJK) after it was revealed the company needed a Rp 32.9 trillion ($2.3 billion) capital injection to boost its risk-based capital ratio to the minimum requirement of 120 percent, Reuters reported, quoting company documents.

The government previously announced it did not intend to bail out Jiwasraya, which booked losses of Rp 15.89 trillion in 2018 and Rp 13.74 trillion during the first nine months of 2019.

Finance Minister Sri Mulyani Indrawati said that Jiwasraya’s failure to pay its matured policies was a legal matter that would require the involvement of the police, the Attorney General’s Office and the Corruption Eradication Commission (KPK). (ami)