Jakarta, CNBC Indonesia – The investigative team at the Directorate of Investigation of the Deputy Attorney General for Special Crimes at the Attorney General’s Office (AGO) revealed a number of modes carried out by the new suspects related to the case of alleged Corruption Crimes (Tipikor) in the Management of Finance and Investment Funds by PT Asabri (Persero).
The three new suspects named on Tuesday night (14/9) were Edward Seky Soeryadjaya (EES/THS) as an entrepreneur who is also a former Director of Ortos Holding Ltd., Bety (B) as the former President Commissioner of PT Sinergi Millennium Sekuritas (former PT Millennium Danatama). Securities), and Rennier AR Latief (RARL), President Commissioner of PT Sekawan Inti Pratama.
Then how do they carry out investment activities that are allegedly detrimental to state finances in Asabri?
For information, the Asabri examination period is for the period from 2012 to 2019.
The value of state losses arising as a result of irregularities or unlawful acts in the management of Asabri’s finances and investment funds, during 2012 to 2019 was IDR 22.78 trillion, based on the calculation of the Supreme Audit Agency (BPK).
The head of the AGO’s Legal Information Center, Leonard Eben Ezer Simanjuntak, explained the roles and activities of the suspects in the Asabri case.
He said that around 2012 there was a meeting between Asabri’s Board of Directors and ESS, and B related to the plan to sell SUGI’s shares (PT Sugih Energy Tbk).
Following up on the meeting, ESS asked for help from B as Commissioner of Millennium Danatama Sekuritas and LAC as Owner of PT Millennium Capital Management to sell SUGI shares, with an agreement that if B could sell 1 share of SUGI, he would get 2 shares of SUGI.
Based on this agreement, then B, who manages SUGI’s shares, actively conducts transactions among his own nominees, thereby successfully increasing SUGI’s share price.
Then, B was then given 250,000,000,000 SUGI shares by ESS whose transactions were carried out on a Free Of Payment (FOP) basis through Nominee ES at Millennium Danatama Sekuritas.
During 2013 to 2015 after successfully increasing SUGI’s share price through its nominees at Millennium Danatama Sekuritas, then B sold SUGI’s shares to Asabri.
“Because SUGI shares do not have good fundamentals and are not liquid stocks, they have experienced a decline in price,” Leonard said, in his official statement, Tuesday (14/9).
After ‘Frying’, Shares are Switched to Underlying Mutual Funds
At the time of SUGI’s stock price decreased to Rp. 140/share, then Asabri collaborated with 4 Investment Managers to move SUGI’s shares from Asabri’s stock portfolio into the underlying portfolio of Asabri’s mutual funds.
A number of mutual fund products, namely Guru Mutual Funds, Victoria Jupiter Mutual Funds, Recapital Equity Fund Mutual Funds, Millennium Balanced Fund Mutual Funds and OSO Moluccas Equity Fund Mutual Funds are not at fair market prices but at acquisition prices.
The remaining SUGI shares in Asabri’s stock portfolio were then sold below the cut loss to PT Tricore Kapital Sarana.
NEXT: The Roles of 2 Other Suspects