Illegal Gold Transaction Accumulation by PT Simba Jaya Reaches Rp 25.9 Trillion, TPPU Assets Being Traced

In handling the aforementioned case, investigators not only uncovered allegations related to the criminal acts of receiving, utilising, processing and/or refining, transporting, and selling gold originating from unlicensed mines, but also employed a money laundering approach using the ‘semi stand-alone money laundering’ concept. This is a law enforcement approach to money laundering offences that allows an individual to be prosecuted and punished for money laundering even if the predicate crime has not yet been or is not proven first in court,” said Director of Special Economic Crimes at Bareskrim Polri, Brigadier General Ade Safri Simanjuntak, in his statement on Sunday (12/4/2026). The three companies involved are: PT Simba Jaya Utama (SJU); PT Indah Golden Signature (IGS); and PT Suka Jadi Logam (SJL). Meanwhile, the three suspects designated are: 1. TW 2. DW 3. BSW “Based on the facts from the investigation up to now, it is known that the accumulation of gold buying and selling transactions suspected to originate from illegal mining during the 2019-2025 period reached Rp 25.9 trillion, consisting of purchases of gold from illegal mines as well as sales of part or all to several gold refining companies and exporters,” he said. During searches on 19-20 February in several locations in East Java, Bareskrim seized several pieces of evidence including: - Invoice documents, purchase orders, delivery notes, buy-sell transaction records, and electronic evidence - Gold in various jewellery forms with a total weight of 8.16 kg - Gold in bar form with a total weight of approximately 51.3 kg, estimated to be worth around Rp 150 billion - Cash amounting to Rp 7.13 billion, consisting of Rupiah Rp 6,177,860,000 and USD 60,000 (approximately Rp 960 million) “Investigators are also collaborating with PPATK to trace financial transactions (follow the money) and trace assets (follow the assets) in uncovering this case as a form of progressive law enforcement, which not only punishes the perpetrators but also traces and seizes the proceeds of crime,” he added.