IBRA reports Dharmala to AG office
JAKARTA (JP): The Indonesian Bank Restructuring Agency (IBRA) filed on Monday a criminal report with the General Attorney's Office against PT Dharmala Sakti Sejahtera for allegedly unlawfully selling Dharmala's stake in a joint venture insurance firm.
IBRA's asset management credit legal division head, Robertus Bilitea, said his office made its complaint against Dharmala's former board of directors, including its president Suyanto Gondokusumo.
Robertus said that along with Dharmala, IBRA filed the same complaint against the directors of West Samoan firm Roman Gold Assets Limited.
He said IBRA suspected Dharmala and Roman of violating Law No. 31/1999 on corruption.
He alleged that both companies were engaged in the illegal sale of 1,800 shares owned by Dharmala in insurance firm PT Asuransi Jiwa Indonesia (AJMI).
"Suyanto Gondokusumo's action of selling the shares of AJMI is an illegal act that violated the bankruptcy law, the criminal law, the law on limited liability companies, the capital market law and the civil law," Robertus said in a statement.
IBRA filed the complaint after it was unable to recoup part of a Rp 918.42 billion (some US$96.67 million) loan from Dharmala.
The agency was a creditor to Dharmala before the Central Jakarta Commercial Court declared the company bankrupt in June last year.
Through an auction, the court sold Dharmala's 40 percent stake in AJMI to the latter's parent company, Manufacturers Life Insurance Co. of Canada for Rp 170 billion.
IBRA was due to receive Rp 56 billion from the sale, but the auction was disputed by Roman.
The West Samoan firm claimed to be the rightful owner of Dharmala's 40 percent stake in AJMI, arguing that it had purchased the shares shortly before the auction was held last September.
Roman said it had purchased the shares from Hong Kong-based firm Harvest Hero International Limited, which had a power of attorney from Dharmala to sell them.
But IBRA's legal representative Bob Nasution said in a statement that Dharmala's power of attorney lost its validity when the company was declared bankrupt.
Deputy attorney general for special crimes Bachtiar Fachri Nasution said he had received IBRA's report, but had not had the time to read it.
"It might take about a week or so to study it (the report)," Bachtiar, who is in charge of corruption cases, told The Jakarta Post.
He said his office would then have to decide whether the case would fall under his jurisdiction, or whether it should be handled by the civil or the general crimes division.(bkm/bby)