Three named in Pertamina case

JAKARTA: The National Police have named three suspects in a Rp 100 billion (US$9.6 million) fraud case involving state oil company, Pertamina.

"They have not yet been detained but a travel ban has been imposed on them," said deputy spokesman of the National Police Brig. Gen. Edward Aritonang on Thursday.

The fraud took place on June 23, 2001, but Pertamina reported the case only on Oct. 5.

The suspects are head of Pertamina's treasury division Lukman Hakim, head of the foreign exchange department Syaiful D. Ismail and an employee of foreign exchange company Hardini Sugito, who remains a fugitive from the police.

The fraud took place when three foreign exchange companies -- PT Logtrans, PT Dumas Valindo and PT Sentra Arus Valindo -- were supposed to provide foreign exchange to a private bank. Pertamina found a US$10 million discrepancy in June 2001, which was not accounted for during the three companies' contract with Pertamina.

They had been partners to Pertamina since January 2001, but six months later Pertamina decided the foreign exchange had to go through the bank as the three companies had failed to meet the deadline. --JP