Hotman Paris Claims Lukminto 'Targeted' After Danareksa Fails to Take Over Sritex

REPUBLIKA.CO.ID, SEMARANG – The lawyer for the former bosses of PT Sritex, Iwan Setiawan Lukminto and Iwan Kurniawan Lukminto, Hotman Paris Hutapea, stated that there are political elements in the alleged corruption case regarding the granting of credit to Sritex. He suspects that the case was processed after PT Danareksa failed to take over Sritex’s business through an operational cooperation scheme or KSO.

Hotman revealed that after Sritex was declared bankrupt and insolvent by the Semarang Commercial Court, Danareksa had intended to take over the textile company’s operations. “Actually, there is politics in this. At that time, the central government wanted Danareksa to enter into a KSO to take over the running of this company to save the employees,” he said while accompanying the Lukminto brothers at their trial in the Semarang Corruption Court, on Monday (27/4/2026).

However, Hotman continued, to implement the KSO, the central government at that time asked his clients to prepare a substantial deposit of Rp600 billion. “They couldn’t afford it. Why ask for collateral again when assets are already being given,” he said.

“It’s just because of that, the deal for the Sritex takeover fell through. That’s when the anger started, and they were immediately targeted,” said Hotman.

He did not elaborate further on the matter. “In the end, the bosses above got angry, and they were targeted,” he said.