Probest chief arrested for fraud

JAKARTA: The police arrested the president director of investment company PT Probest International, Burhan Sofyan, on Friday for his alleged involvement in the misuse of company funds.

Police spokesman Sr. Comr. Prasetyo said there was sufficient evidence and witness testimony to take Burhan into custody.

"We have gathered evidence and testimony from witnesses, including an expert witness from the central bank," the officer said.

Burhan was arrested after he failed to answer two summons from the police, Prasetyo said.

The executive will be charged with fraud. Burhan could also be charged with violating Article 46 of Law No. 10/1998 on banking, which carries a maximum sentence of 15 years in prison and a fine of Rp 200 billion (US$23,530).

Police have yet to establish the total amount of money allegedly misused by the suspect. Probest was established in 1998. -- JP