Officials 'put pressures' on Bapindo<\/p>\n
JAKARTA (JP): Three former Bapindo directors disclosed in
\ncourt yesterday that pressures from two cabinet ministers led
\nthem to approve huge loans to businessman Eddy Tansil, bypassing
\nstandard banking practices.<\/p>\n
Towil Heryoto, Bambang Kuntjoro and Sjahrizal told the Central
\nJakarta District Court in separate testimony yesterday that
\nTansil's loan applications between 1989 and 1993 were not
\nsubjected to normal scrutiny. They said this was because they
\nwere supported by letters of reference from Sudomo, then the
\ncoordinating of political affairs and security.<\/p>\n
The three men also said that in June 1992, Sumarlin, then the
\nminister of finance, overruled their decision to cut their losses
\nwith Tansil's transactions and ordered them continue to make good
\non all their loan commitments to the businessmen.<\/p>\n
Sjahrizal added a third cabinet official to the list of
\ngovernment officials who put pressure on the bank. That man was
\nformer junior finance minister Nasrudin Sumintapura.<\/p>\n
These were the first public allegations of the extent to which
\nthe minister was involved in the Rp 1.3 trillion ($620 million)
\nloan scandal at the government-owned Bank Pembangunan Indonesia
\n(Bapindo).<\/p>\n
The three former Bapindo executives were testifying in the
\ntrial of Tansil, owner of the Golden Key Group, who has been
\naccused of siphoning off $448 million of the bank's money. The
\nthree are also under investigation by the Attorney General's
\noffice for their alleged role in the scam.<\/p>\n
A fourth director, Adhi Sugondho, did not shed any new light
\nat the hearing because he had already retired by the time the
\nquestionable transactions took place.<\/p>\n
The testimony of a fifth director, Subekti Ismaun, was
\npostponed until Saturday because the hearing dragged on until
\nlater afternoon. Subekti is also under investigation.<\/p>\n
Sudomo is now the chairman of the Supreme Advisory Council on
\nwhich Nasrudin also sits. Sumarlin is now the chairman of the
\nSupreme Auditing Board.<\/p>\n
"Without the reference letter from Sudomo, we would have
\nfollowed the standard procedures in issuing the letters of credit
\nfor Tansil," Bambang Kuntjoro told the court.<\/p>\n
Sjahrizal said Sudomo's reference letters attested that
\nTansil's venture was sound and that his integrity was beyond
\nquestion.<\/p>\n
Tansil was applying for loans to finance giant petrochemical
\nprojects in Cilegon, West Java.<\/p>\n
He said that on June 2, 1992, the directors decided to cut
\ntheir losses with Tansil and stop issuing further bankers'
\nacceptance in connection with his loans. Tansil then had already
\nreceived $208 million of his $432 million in loans.<\/p>\n
Only hours later however, Sjahrizal said he was summoned to
\nSumarlin's office at which time he was ordered to allow Tansil to
\ncash in on the remaining loans that were pledged to him.<\/p>\n
"These are viable projects. You should continue (financing
\nthem)," Sjahrizal quoted Sumarlin as telling him at the meeting.
\n"There's no need for concern, since other banks will join in the
\nsyndication to share out the risks."<\/p>\n
Sjahrizal later returned to the office and informed other
\ndirectors of Sumarlin's remarks. "This is a policy that we have
\nto carry out."<\/p>\n
Sudomo has been listed by the court as one of the witnesses to
\ntestify in court. However his court appearance is not yet certain
\nsince he has already given a deposition to the Attorney General's
\noffice, as has Sumarlin.<\/p>\n
Sudomo never denied issuing the letters of reference for
\nTansil but stressed that this was normal practice and that the
\nbank should still have assessed his creditworthiness.<\/p>\n
Sumarlin had reportedly denied the existence of the June 2
\nmeeting with Sjahrizal, saying he was out of town on that day.<\/p>\n
Sjahrizal and Bambang also recalled that they met with Sudomo
\non at least two occasions to discuss the problems with Tansil in
\n1993 but each time the minister gave his assurances that Tansil
\n"was not a problem."<\/p>\n
In 1993 they had also demanded that Tansil repay all the money
\nhe had taken from Bapindo but this demand was ignored.<\/p>\n
Towil, Sjahrizal and Bambang also blamed Maman Suparman, at
\nthe time deputy manager of Bapindo's Jakarta branch, of acting
\nbeyond his authority in issuing letters of credits for Tansil,
\nchanging the terms of the letters that allowed the beneficiary to
\ncash in on loans ahead of delivery, and changing the name of
\nbeneficiaries into a Hong Kong-based company owned by Tansil.<\/p>\n
This occurred for months until the head office became aware
\nthat something had gone sour with the loans on April 1992, and
\nthat Tansil never furnished the necessary documents to the
\nJakarta branch to support his loan applications.<\/p>\n
The directors acknowledged that they had approved the loans
\nbefore referring Tansil's loan arrangements to the Jakarta branch
\nbecause the projects were feasible.<\/p>\n
Both Towil and Bambang said they had a good "business feeling"
\nabout the project when deciding to open letters of credit to
\nfinance Tansil's import of equipment.<\/p>\n
Bambang said that it was not unusual for the directors to use
\ntheir discretion in approving loans while bypassing one or two of
\nthe normal procedures. (05)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/officials-put-pressures-on-bapindo-1447893297",
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