Benny Tjokro Blacklisted for Life from Capital Market by OJK
Jakarta, CNBC Indonesia — Following his involvement in the massive Jiwasraya corruption scandal, Indonesia’s Financial Services Authority (OJK) has imposed a sanction or prohibition on Benny Tjokrosaputro, known as Bentjok, from serving as Commissioner, Director, or manager of any company in the Capital Market sector for life.
Bentjok is implicated in the embezzlement of IPO funds at the Indonesia Stock Exchange. He was involved in the investment case of state-owned enterprises Jiwasraya and Asabri, which resulted in state losses of nearly Rp40 trillion. Bentjok was sentenced to life imprisonment in the Jiwasraya case and received a not guilty verdict in the Asabri case, despite the Public Prosecutor’s Office (JPU) demanding the death penalty.
“The sanction was imposed on 13 March 2026 for meeting the provisions of Article D of Regulation No. VIII.G.7 because Benny Tjokrosaputro caused PT Bliss Properti Indonesia Tbk to be proven in violation of Article 69(1) of the Capital Market Law,” the OJK stated in its official statement.
The imposition of sanctions serves as evidence of the OJK’s commitment to strengthening supervision and law enforcement in maintaining the integrity and public confidence in Indonesia’s Capital Market.
The sanctions were issued because PT Bliss Properti Indonesia Tbk presented related-party receivables to PT Bintang Baja Hitam totalling Rp31.25 billion in its 2019 Annual Financial Report and advance payments to PT Ardha Nusa Utama totalling Rp116.7 billion in the 2019 through 2023 Annual Financial Reports.
These actions were discovered not to provide future economic benefits to be recognised as assets of PT Bliss Properti Indonesia Tbk, as the receivables and advance payments were sourced from IPO fund proceeds that actually flowed to Benny Tjokrosaputro in the amount of Rp126.6 billion and to PT Ardha Nusa Utama in the amount of Rp116.7 billion.
It was also established that Ibrahim Hasybi, as Director of PT Ardha Nusa Utama, also served as a member of the Audit Committee of PT Hanson International Tbk, a company also controlled by Benny Tjokrosaputro.
In this case, Gracianus Johardy Lambert and Astried Damayanti as Directors of PT Bliss Properti Indonesia Tbk for 2019 were also given Administrative Sanctions in the form of a fine of Rp110,000,000 jointly and severally.
Gracianus Johardy Lambert, Basuki Widjaja, and Eko Heru Prasetyo as Directors of PT Bliss Properti Indonesia Tbk from 2020 to 2023 were given Administrative Sanctions in the form of a fine of Rp1,950,000,000 jointly and severally.
Gracianus Johardy Lambert, as Chief Executive Director of PT Bliss Properti Indonesia Tbk from 2019 to 2023, was also prohibited from conducting any activities in the Capital Market sector for five years.
Accountant Patricia, who was a Partner at the Public Accounting Firm Kanaka Puradiredja, Suhartono at the time of the engagement, was given Administrative Sanctions in the form of a fine of Rp150,000,000 because Patricia failed to fully apply the Professional Standards for Public Accountants in providing audit services for the 2019 and 2020 Annual Financial Reports of PT Bliss Properti Indonesia Tbk.
Additionally, there were indications of internal control deficiencies concerning cash disbursement procedures and the transfer of cash disbursement authority on the IPO account of PT Bliss Properti Indonesia Tbk to a party other than the Board of Directors. This demonstrated that the Board of Directors did not conduct proper governance as Patricia noted in the Management Letter.
Accountant Helli Isharyanto Budi Susetyo, as a Partner at the Public Accounting Firm Kanaka Puradiredja, Suhartono, was also given Administrative Sanctions in the form of a fine of Rp150,000,000 for failing to fully apply the Professional Standards for Public Accountants in providing audit services for the 2021 Annual Financial Report of PT Bliss Properti Indonesia Tbk.
Other parties who received sanctions include PT Nonghyup Korindo Securities Indonesia (PT NH Korindo Securities Indonesia) and Amir Suhendro Samirin as Director of NH Korindo Securities Indonesia for 2019.
The OJK stated that the total fines imposed for violations of capital market regulations concerning PT Bliss Properti Indonesia Tbk amounted to Rp5,625,000,000.