Illegal banker detained in Makassar

Illegal banker detained in Makassar

MAKASSAR, South Sulawesi: Police in South Sulawesi have detained a cooperatives head suspected of operating an "illegal bank", causing Rp 3 billion losses to his 2,000 customers.

H. Bustan, head of the Serba Usaha Milik Bersama Cooperatives, was arrested on Monday night on charges of fraud and embezzlement of the money.

Around five months ago, hundreds of Bustam's customers stormed the cooperatives office on Jalan Ahmad Yani to demand their deposits be returned back.

Bustam had told the protesters he would return their money, but he has since paid back the customers some of their deposits.

The "illegal bank" was under tight security on Tuesday by Mobile Brigade police to prevent a possible attack by dissatisfied customers. --Antara