Police Name Three Suspects in Rp38.9 Billion Coal Financing Corruption Case

The Corruption Eradication Unit of the Indonesian National Police has named three suspects in a corruption case related to the provision of coal financing, which allegedly caused state losses of Rp38.9 billion. The suspects are IT, an Investment Manager at PT Perusahaan Pengelola Aset (PPA); FSN, the Head of the Operational Division at PT BAS; and FH, the Director of PT BAS. According to the Head of Operations for the Police Corruption Eradication Unit, the case originated from a financing facility worth Rp50 billion provided through an invoice financing scheme. However, irregularities occurred during the disbursement process, with funds eventually reaching approximately Rp67.31 billion across eight separate disbursements. Investigators found that the risk analysis for the financing was allegedly not conducted properly, and supporting documents, including invoices, were approved without adequate verification. Furthermore, supervision of the cash collateral mechanism was reportedly weak, and there is a suspicion that escrow account statements were manipulated to appear compliant with requirements. An investigative audit by the Audit Board of Indonesia (BPK) concluded that the actions of the suspects resulted in state financial losses amounting to Rp38.9 billion. One of the suspects, FH, is currently serving a prison sentence in another case at Salemba Penitentiary.