Eddy Tansil to face Rp 500b civil lawsuit
Eddy Tansil to face Rp 500b civil lawsuit
JAKARTA (JP): The Attorney General Office plans to file a civil lawsuit against Eddy Tansil in a bid to claw back the Rp 500 billion (US$219 million) the tycoon still owes the state.
"He has not paid a penny of the restitution ordered by the Central District court," Deputy Attorney General for Civil and State Administrative Cases, Suhadibroto, said Thursday
Tansil is the man at the center of the Rp 1.3 trillion (US$620 million) loan scandal at the state-owned Bank Pembangunan Indonesia (Bapindo) in 1994.
Details of the plan to sue Eddy have been discussed by officials of the Attorney General's Office, the Ministry of Finance and the state-owned Bank Pembangunan Indonesia (Bapindo).
Tansil, found guilty of embezzling $448 million from the government-owned bank, was sentenced to 17 years in prison by the Central Jakarta District Court in August 1994.
The court also ordered Tansil, owner of the Golden Key Group holding company, to pay the government Rp 500 billion in restitution and fined him an additional Rp 30 million.
Both the Jakarta High Court and the Supreme Court confirmed the restitution and the fine but they increased the sentence to 20 years.
Tansil had secured a total of $477 million in loans from Bapindo to finance the construction of a huge petrochemical project in Cilegon, West Java.
He managed to cash in on nearly $448 million of the loans by converting the terms of his letters of credit from usance to red clause ones. He also managed to name his own company in Hong Kong as the beneficiary in place of the original foreign suppliers. He did all this with the help of Bapindo insiders.
Four former Bapindo directors and a former deputy manager of the Bapindo's Jakarta branch have also been sentenced for their involvement in the loan scandal.
Suhadibroto also said that the attorney general's office completed executing all assets of the Golden Key Group on March 15 this year.
The Central Jakarta District Court stated in its verdict in August 1994 that three petrochemical plants in Cilegon, West Java and a number of houses and vehicles, were to be seized by the state.
Suhadibroto, however, declined to mention the value of the seized assets, saying that Bapindo would appoint an appraisal consultant to do the estimation. (imn)