Acquittal of eight bankers and efforts to maintain the banking image
Semarang (ANTARA) - The Semarang Corruption Court in Central Java has concluded the trial in the alleged corruption case involving the granting of credit to PT Sri Rejeki Isman (Sritex), which caused state losses of around Rp1.3 trillion.
The trial, which implicated three leaders of the textile company that was once the largest in Southeast Asia, lasted nearly five months, beginning in December 2025.
The three Sritex leaders on trial were Chairman of the Board of Commissioners Iwan Setiawan Lukminto, President Director Iwan Kurniawan Lukminto, and Finance Director Alan Moran Saverino.
The case also implicated several former leaders of three regional government-owned banks that provided credit to Sritex, namely Bank BJB, Bank Jateng, and Bank DKI.
The bankers who served as leaders at Bank BJB and were tried in the case were former President Director Yuddy Renaldi, former Senior Executive Vice President of Business Benny Riswandi, and former Head of Corporate and Commercial Division Dicky Syahbandinata.
From Bank Jateng, they were former President Director Supriyatno, former Director of Corporate and Commercial Business Pujiono, and former Head of Corporate and Commercial Business Division Suldiarta.
Meanwhile, from Bank DKI, they consisted of former Director of Technology and Operations Priagung Suprapto, former Director of UMKM Credit doubling as Finance Director Babay Farid Wazdi, and President Director Zainuddin Mappa.
The corruption offence in granting credit to PT Sritex occurred between 2018 and 2023.
In the trial, the three leaders of the textile company, which was declared bankrupt in 2024, were found guilty.
Presiding Judge Rommel Franciskus Tampubolon, in a hearing held on 6 May 2026, sentenced Sritex Chairman of the Board of Commissioners Iwan Setiawan Lukminto to 14 years in prison.
Meanwhile, President Director Iwan Kurniawan Lukminto and Finance Director Alan Moran Saverino were each sentenced to 12 years and 10 years in prison, respectively.
In its considerations, the judge stated that the defendants were proven to have applied for loans from the three regional banks using falsified financial statements for 2017, 2018, and 2019.
The purpose of the loans from the three regional banks was to pay bills to Sritex’s suppliers.
However, PT Sritex instead created its own invoices for claims used to obtain the loans.
In addition, the defendants were also deemed to have falsified the application for debt payment postponement (PKPU).
The defendants’ actions were considered structured misconduct that exploited Sritex’s big name, making it difficult to detect.
Two Sritex bosses, Iwan Setiawan and Iwan Kurniawan, were also ordered to pay restitution for state losses of Rp677 billion each.
This restitution was imposed on them after they were also proven to have committed money laundering offences. They were found to have disguised loan proceeds from the banks, which should have been used to pay supplier bills, into land, rice fields, buildings, property, and debt repayments.
Contrasting verdict