Fraud Scheme in IDR 992 Billion Credit Application to LPEI Revealed in Court
A public appraiser from the Public Appraisal Services Office (KJPP) Felix Sutandar and Partners (FSR), Herman Jap, testified as a witness in a corruption case concerning export financing from the Indonesian Export Financing Institution (LPEI) for the 2014-2015 period. Herman revealed the fraudulent scheme used in the credit application during the hearing at the Jakarta Corruption Court on Wednesday (1/7/2026). Initially, Herman stated that he received a request to appraise the assets of PT Tebo Indah. He explained that the appraisal was conducted using different approaches depending on the type of asset. “The purpose was clearly stated in the proposal as collateral for debt to Bank EXIM,” Herman responded.
Herman admitted he was initially unaware that another KJPP had previously appraised PT TI’s assets with a different result. He noted that one KJPP’s appraisal indicated PT TI’s palm oil plantation area was 5,000 hectares. “I stated there was indeed a difference, specifically regarding the land area, particularly the planted area. Romulo’s report said 5,000 hectares were planted and productive, while KJPP Felix’s report stated 2,400 hectares,” Herman answered. When the prosecutor asked if the results between the KJPPs regarding the land area were the same, Herman replied, “We only found out after a meeting at the bank, LPEI, EXIM. After that meeting, we realised there was a discrepancy. Before the meeting, we were not informed at all about the differences between the KJPPs, or whether the use was for other purposes or non-performing loans. We knew absolutely nothing.”
Herman said LPEI requested a recalculation to appraise PT TI’s assets using a census method. He stated the real area of PT TI’s palm oil plantation turned out to be only 2,400 hectares. “After the meeting, at that time no one knew which one was real. That is why LPEI instructed us, the consortium, to conduct a census to prove which one was correct. Hence, a double census. Finally, after the census results came in, it was true, 2,400 hectares. That was the conclusion of the real figure,” Herman answered. He explained the difference in the appraisal of PT TI’s palm oil plantation area occurred because the data provided as the basis for calculation to each KJPP was different. He admitted he only became aware of this when comparing PT TI’s asset appraisal results with those of another KJPP during an examination by investigators in this case.
Public appraiser Romulo Manarung from KJPP Romulo Charlie and Partners, who was also presented as a witness, admitted they did not conduct a field inspection. He stated the appraisal was performed solely based on data provided by PT TI. When the prosecutor asked, “Did you take direct measurements to conduct the appraisal, including the palm oil trees, area, fresh fruit bunch production, stands, and processing plant, by checking directly in the field yourself?” Romulo replied, “It was not done; we did not perform those measurements.” The prosecutor followed up, “So it was just based on data?” Romulo answered, “Yes.” Romulo stated his party only received the appraisal assignment based on data, which resulted in them not checking directly in the field. When asked why they did not take direct measurements, Romulo replied, “That was not part of the assignment to our KJPP; it was outside our scope of work.”
The prosecutor stated this case has caused state financial losses of IDR 992.8 billion. A total of eight individuals have been named as defendants. Their identities are as follows: 1. Former Head of the Sharia Financing Division Department of LPEI for 2011-2017, Andi Maulana Adjie; 2. Former Head of the Sharia Financing Division of LPEI for 2007-2016, Intan Apriadi; 3. Former Head of Sharia Department 1 of LPEI for 2017-2018, Gamaginta; 4. Former Head of Sharia Financing Department 2 for 2011-2016, Komaruzzaman; 5. Director of PT Tebo Indah, Liu Raymond (LR); 6. Former Executive Director 1 of the LPEI Business Unit for 2009-2018, Dwi Wahyudi; 7. Relation Manager of Sharia Financing 1 at LPEI, Ryan Wahyudi; 8. Handoko Limaho, the Beneficial Owner of PT Tebo Indo (TI) and PT Pratama Agro Sawit.