Dossier on Arta Prima scam

JAKARTA (JP): The City Police is scheduled to hand over the dossier of one of the seven suspects in the Bank Arta Prima Rp 1.2 trillion (US$516 million) scam to the Provincial Prosecutor's Office this week, an officer said.

Chief of City Police Detectives Col. Gories Mere said over the weekend that the investigation was nearly completed but declined to give further details or name the suspect whose dossier was being prepared.

"We have accomplished around 90 percent of the investigation in the case," Gories said.

He said the seven alleged suspects were arrested for their alleged involvement in the Rp 1.2 trillion scam, consisting of Rp 324 billion in commercial papers underwritten by Bank Arta Prima and Rp 700 billion in bad loans.

Five of the seven suspects are the bank's former executives, including Made Oka Masagung, a former main shareholder and now advisor of PT Gunung Agung, a widely diversified book publishing business group, a bookstore chain and other businesses.

The bank, originally founded by PT Gunung Agung, had issued commercial papers without approval from the central bank -- Bank Indonesia. (cst)