Bank Arta Prima executive face court

JAKARTA (JP): A company executive has been indicted at Central Jakarta District Court for forging promissory notes worth Rp 177 billion (US$49.22 million).

Prosecutor Petrus Sambara said during the trial Monday that Henricus Hardana Suhalim, alias Hari, a director of PT Ayumas Finance, had forged the commercial papers between Jan. 27, 1995 and May 1, 1995.

Petrus said the defendant had collaborated with five men -- identified as Made Oka Masagung, Kim Johanes Mulia, Chalid Aini, Chusni Ali Tojib and Marcel Maulana -- all of whom would be tried in different sessions.

He alleged Henricus had issued the notes on the order of Masagung, a former owner of Gunung Agung Group, which owned PT Ayumas.

The notes were then endorsed by Bank Arta Prima, a subsidiary of Gunung Agung Group, he said. The notes were intended to fraudulently cover the holding company's debts worth Rp 174 billion, he said.

Petrus said the defendant used the notes to pay off creditors, including Bank Pacific (Rp 48.52 billion), Bank Mitsubishi of Singapore and Itochu (Rp 14.52 billion), Indopac Finance (Rp 15 billion), Bank Pertiwi (Rp 17 billion), Bank Dharmala (Rp 9 billion), Uni Bank (Rp 4 billion) and Orient Bank (Rp 18 billion).

But when the notes matured, the creditors could not withdraw the money from Bank Arta Prima because it had no funds, he said.

When the commercial papers were issued, PT Ayumas Finance was not active as a company and it did not have a board of directors.

Petrus said Henricus was charged under Article 264 of the Criminal Code.

If proved guilty, the defendant may face a maximum penalty of eight months in jail, he said.

Presiding judge Pieter Purba adjourned the trial until next week when he will hear statements from the defendant's lawyers'. (jun)