Kejagung Tetapkan Dirjen Anggaran Kemenkeu Tersangka Dugaan Kasus Korupsi PT Asuransi Jiwasraya

Summary

The transcript details an ongoing investigation into the corruption surrounding PT Asuransi Jiwasraya, a state-owned life insurance company. The company, declared insolvent in 2008, faced financial troubles due to risky investments and high-interest products marketed to policyholders. Key individuals, including former directors and officials, are under investigation for their roles in the mismanagement. The investigation has uncovered losses amounting to 161 trillion IDR, and arrests have been made. The speaker, addressing the media, highlights the serious nature of the case and assures continued legal action against those involved.

Takeaways

• 😀 The investigation focuses on corruption related to financial management and investment funds by PT Asuransi Jiwasraya from 2008 to 2018.
• 😀 In March 2008, PT Asuransi Jiwasraya was declared insolvent with a financial shortfall of IDR 5.7 trillion in reserves for policyholders.
• 😀 The Ministry of State-Owned Enterprises (BUMN) proposed a capital injection of IDR 6 trillion to address the insolvency, but it was rejected due to the company’s RBC ratio being -580%.
• 😀 PT Asuransi Jiwasraya's management planned a restructuring to address prior losses and the imbalance between assets and liabilities, which were minus IDR 5.7 trillion.
• 😀 A new product, 'Saving Plan,' offering high interest rates (9-13%) was introduced to cover the company’s losses, despite the bank interest rate being lower (7.5-8.75%).
• 😀 The marketing of the 'Saving Plan' product was approved by Bapepam LK, despite knowledge that PT Asuransi Jiwasraya was insolvent.
• 😀 The company’s financial situation worsened due to the high interest rates offered on the 'Saving Plan' product, which was not supported by adequate investment returns.
• 😀 Between 2014 and 2017, PT Asuransi Jiwasraya raised IDR 47.8 trillion through the 'Saving Plan' product, but the funds were mismanaged, leading to financial losses.
• 😀 The investments made by PT Asuransi Jiwasraya were poorly managed, including the purchase of stocks and mutual funds that led to significant financial losses.
• 😀 A key suspect, identified as Ir, is being investigated for corruption related to mismanagement of the company’s funds, with damages amounting to IDR 161 trillion.
• 😀 The suspect has been detained for 20 days, and the case is now in the process of legal action under anti-corruption laws.

Q & A

What is the main subject of the investigation discussed in the transcript?

The main subject of the investigation is the financial mismanagement and corruption in the management of funds and investments by PT Asuransi Jiwasraya from 2008 to 2018.

What was the financial condition of PT Asuransi Jiwasraya in 2008?

In 2008, PT Asuransi Jiwasraya was insolvent, with a shortfall in its financial obligations to policyholders amounting to 5.7 trillion IDR.

What action did the Indonesian Ministry of BUMN (State-Owned Enterprises) propose to resolve the financial crisis of Jiwasraya?

The Ministry of BUMN proposed adding 6 trillion IDR in capital through zero-coupon bonds to restore the company's solvency, but the proposal was rejected because the company’s RBC (Risk-Based Capital) ratio was -580%.

Who were the key figures involved in the restructuring efforts for PT Asuransi Jiwasraya?

Key figures involved in the restructuring efforts included Hendrisman Rahim, Heri Prasetyo, Syah Mirwan, and Ir (who was the Head of the Bureau of Insurance at Bapepam LK at the time).

What was the nature of the product 'Saving Plan' created by Jiwasraya?

The 'Saving Plan' was a product with high interest rates (9-13%) designed to attract policyholders, despite the company's financial struggles and insolvency.

Why was the 'Saving Plan' considered problematic for PT Asuransi Jiwasraya?

The 'Saving Plan' was problematic because the company was already insolvent and could not afford to meet the high interest rates promised to policyholders, leading to significant financial strain.

What was the role of Ir (the Head of the Bureau of Insurance at Bapepam LK) in the situation?

Ir played a role in approving the marketing of the 'Saving Plan' by PT Asuransi Jiwasraya, despite knowing that the company was insolvent and incapable of fulfilling its obligations.

What type of investment did PT Asuransi Jiwasraya make using the funds from the 'Saving Plan' program?

PT Asuransi Jiwasraya invested the funds from the 'Saving Plan' in stocks and mutual funds, but these investments were poorly managed, resulting in losses.

How much financial loss did PT Asuransi Jiwasraya suffer due to these investments?

PT Asuransi Jiwasraya suffered financial losses amounting to 161.8 trillion IDR due to poorly managed investments in stocks and mutual funds.

What were the legal consequences for Ir, the individual involved in approving the 'Saving Plan'?

Ir is facing criminal charges under Indonesia's Anti-Corruption Law, with the case leading to his detention for 20 days while awaiting further legal proceedings.