Tansil denies misusing Bapindo funds<\/p>\n
JAKARTA (JP): Businessman Eddy Tansil yesterday denied that he
\nhad misused the funds loaned to him by Bank Pembangunan Indonesia
\n(Bapindo) and that he was the cause for the bank losing Rp 1.3
\ntrillion $448 million.<\/p>\n
Tansil disclosed publicly for the first time, during a court
\nhearing, details of how he had used the Rp 927 billion ($436
\nmillion) loan from Bapindo to prove his point that he had been
\nmanaging the funds properly until he was arrested in February.<\/p>\n
Tansil, the owner of the Golden Key Group, is being charged
\nunder the anti-corruption law for swindling money from Bapindo.
\nThe government prosecutors have alleged that Tansil siphoned the
\nfunds for his private needs and also to finance projects other
\nthan those agreed to in the loans.<\/p>\n
At the Central Jakarta District Court yesterday, Tansil
\nconfirmed that he transferred some of the funds to finance other
\nprojects but denied the suggestion that some had been used for
\nhis private needs.<\/p>\n
He said he invested Rp 423 billion in several companies within
\nthe Golden Key Group, Rp 246 billion in two companies as
\nmentioned in the loan applications, and another Rp 150 billion in
\nproperties and plots of land used by the group.<\/p>\n
The other Rp 110 billion was used to pay the interest on the
\nloans. \"None were allocated for personal expenses,\" he said.<\/p>\n
The Bapindo loans were intended to finance two units of a huge
\nintegrated petrochemical project but some of the funds, according
\nto Tansil, were used to finance other units in the meantime.<\/p>\n
He insisted that all the projects within the group would have
\nsucceeded if he was not arrested. \"And I am sure I could pay back
\nthe money I owe, since the credits were not due until the year
\n2000,\" he said.<\/p>\n
He pointed out that up to the time he was arrested, he never
\nreceived any formal warning from Bapindo regarding the loans.<\/p>\n
Tansil was cross-examined by his lawyers, the prosecutors and
\nthe judges. The hearing was adjourned until Thursday next week
\nwhen the prosecutors are scheduled to read their closing
\narguments.<\/p>\n
Tansil explained yesterday that Bapindo's directors were aware
\nand approved of his actions to use what he called \"idle money\".<\/p>\n
This was proven when they allowed him to convert letters of
\ncredit, intended for payments for equipment purchased from South
\nKorean and Chinese suppliers, from usance to red letters and
\ntherefore allowing him to use the money for other purposes until
\nthe equipment arrived. The bank also changed the beneficiary of
\nthe letters of credit to Golden Step Development, which is an
\naffiliate of the Golden Key Group.<\/p>\n
Tansil said he did not see any wrongdoing had been committed
\nsince the funds were used to finance the other units of the
\npetrochemical project.<\/p>\n
The bank's directors were not only aware of his actions, they
\neven decided, as late as November 1993, to sign an agreement to
\nfurnish him with more loans, Tansil said.<\/p>\n
Responding to why the properties and plots of land he bought
\nwith the bank's money were registered with his or his wife's
\nname, Tansil said that he did that for administrative reasons.<\/p>\n
\"It would be more difficult to obtain official documents for
\nthem if they were registered under the companies' names,\" he
\nsaid.<\/p>\n
Tansil is one of three men now being tried in connection with
\nthe Bapindo loan scandal.<\/p>\n
Maman Suparman, formerly deputy manager of the bank's Jakarta
\nbranch, faces sentencing at the South Jakarta District Court next
\nThursday for his alleged role in facilitating Tansil to gain
\naccess to huge funds.<\/p>\n
Towil Heryoto, a former Bapindo director, began his trial in
\nthe same court on Monday.<\/p>\n
Three other former Bapindo directors are under investigation
\nat the Attorney General's office and their dossiers are expected
\nto be turned into the court soon. They are Subekti Ismaun,
\nSjahrizal and Bambang Kuntjoro. (05)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/tansil-denies-misusing-bapindo-funds-1447893297",
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