Police: Coal financing corruption causes state losses of Rp38 billion

The Indonesian National Police (Polri) stated that alleged corruption in the provision of invoice financing facilities for a coal procurement project by PT Perusahaan Pengelola Aset (PPA) resulted in state losses of Rp38 billion. The Head of the Operations Section of the Corruption Eradication Task Force (Kortastipidkor) of the National Police, Commissioner Ahmad Yusuf Afandi, said in Jakarta on Monday that the loss figure was based on the Investigative Audit Report from the Audit Board of Indonesia (BPK). In this case, investigators have named three suspects: IT, the Investment Manager of PT PPA; FSN, the Head of the Operations Division of PT Bintang Abadi Sampurna (BAS); and FH, the Director of PT BAS. Investigators have also seized assets belonging to the suspects, including land and buildings in Medan, Bogor, Bekasi, Samarinda, and Sidoarjo, with an estimated value of around Rp14.4 billion as part of asset recovery efforts. According to Yusuf, the case began when PT PPA provided an invoice financing facility worth Rp50 billion to PT BAS. However, the actual disbursement of funds reached approximately Rp67.31 billion across eight stages. Investigators found several irregularities in the financing process, including the failure to conduct due diligence and risk analysis, the lack of verification of the validity of invoice documents, the disregard of cash collateral requirements, and the alleged manipulation of bank statements as the basis for fund disbursement.