Two Defendants in Taspen Fictitious Investment Case Charged with Causing Rp1 Trillion State Loss
Jakarta (ANTARA) - Two defendants in the alleged fictitious investment case at PT Taspen (Persero) in 2019, Antonius Nicholas Stephanus Kosasih and Ekiawan Heri Primaryanto, have been charged with causing state losses of Rp1 trillion.
Corruption Eradication Commission (KPK) prosecutor Gilang Gemilang alleged that Kosasih and Ekiawan jointly carried out fictitious investments to enrich themselves, other individuals, and corporations, thereby causing losses to the state.
During the reading of the indictment at the Jakarta Corruption Court on Tuesday, the prosecutor revealed that the case enriched Kosasih by Rp28.45 billion, US$127,037, S$283,000, €10,000, 1,470 Thai baht, £20, ¥128, HK$500, and 1.26 million South Korean won, whilst enriching Ekiawan by US$242,390.
For their actions, both defendants face charges under Article 2 paragraph (1) or Article 3 in conjunction with Article 18 of Law Number 31 of 1999 on the Eradication of Corruption, as amended by Law Number 20 of 2001, in conjunction with Article 55 paragraph (1) point 1 of the Criminal Code.
Beyond the two defendants, the prosecutor stated that the unlawful conduct also enriched Patar Sitanggang by Rp200 million, PT Insight Investment Management (IIM) by Rp44.21 billion, and PT Pacific Sekuritas Indonesia by Rp108 million.
Several other parties enriched in the case include PT KB Valbury Sekuritas Indonesia at Rp2.46 billion, Sinar Emas Sekuritas at Rp44 million, and PT Tiga Pilar Sejahtera Food Tbk (TPSF) at Rp150 billion.
The prosecutor explained that the case began when Kosasih, who at the time served as Investment Director of PT Taspen in 2019, invested in the I-Next G2 Mutual Fund to remove Sukuk Ijarah TPS Food 2, issued in 2016, from PT Taspen's portfolio without the support of investment analysis recommendations.
"The sukuk, subsequently referred to as Sukuk SIA-ISA 02, experienced a default," the prosecutor said.
In addition to investing in the I-Next G2 Mutual Fund from PT Taspen's portfolio without supporting investment analysis, the prosecutor said Kosasih also revised and approved directors' regulations on PT Taspen's investment policy.
It was further stated that this measure was taken to establish an investment asset conversion mechanism to accommodate the release of Sukuk SIA-ISA 02 through the I-Next G2 Mutual Fund investment.
These activities were allegedly carried out jointly with Ekiawan, who at the time served as President Director of PT IIM from 2016 to 2024, by managing the I-Next G2 Mutual Fund investment in an unprofessional manner.
Corruption Eradication Commission (KPK) prosecutor Gilang Gemilang alleged that Kosasih and Ekiawan jointly carried out fictitious investments to enrich themselves, other individuals, and corporations, thereby causing losses to the state.
During the reading of the indictment at the Jakarta Corruption Court on Tuesday, the prosecutor revealed that the case enriched Kosasih by Rp28.45 billion, US$127,037, S$283,000, €10,000, 1,470 Thai baht, £20, ¥128, HK$500, and 1.26 million South Korean won, whilst enriching Ekiawan by US$242,390.
For their actions, both defendants face charges under Article 2 paragraph (1) or Article 3 in conjunction with Article 18 of Law Number 31 of 1999 on the Eradication of Corruption, as amended by Law Number 20 of 2001, in conjunction with Article 55 paragraph (1) point 1 of the Criminal Code.
Beyond the two defendants, the prosecutor stated that the unlawful conduct also enriched Patar Sitanggang by Rp200 million, PT Insight Investment Management (IIM) by Rp44.21 billion, and PT Pacific Sekuritas Indonesia by Rp108 million.
Several other parties enriched in the case include PT KB Valbury Sekuritas Indonesia at Rp2.46 billion, Sinar Emas Sekuritas at Rp44 million, and PT Tiga Pilar Sejahtera Food Tbk (TPSF) at Rp150 billion.
The prosecutor explained that the case began when Kosasih, who at the time served as Investment Director of PT Taspen in 2019, invested in the I-Next G2 Mutual Fund to remove Sukuk Ijarah TPS Food 2, issued in 2016, from PT Taspen's portfolio without the support of investment analysis recommendations.
"The sukuk, subsequently referred to as Sukuk SIA-ISA 02, experienced a default," the prosecutor said.
In addition to investing in the I-Next G2 Mutual Fund from PT Taspen's portfolio without supporting investment analysis, the prosecutor said Kosasih also revised and approved directors' regulations on PT Taspen's investment policy.
It was further stated that this measure was taken to establish an investment asset conversion mechanism to accommodate the release of Sukuk SIA-ISA 02 through the I-Next G2 Mutual Fund investment.
These activities were allegedly carried out jointly with Ekiawan, who at the time served as President Director of PT IIM from 2016 to 2024, by managing the I-Next G2 Mutual Fund investment in an unprofessional manner.