Investigators of the Corruption Eradication Commission (KPK) seized Rp2.4 billion (US$152,445) in cashfollowing an investigation into alleged corruption involving a fictitious investment scheme at PT Taspen in 2019, involving brokers and investment managers in the State-owned pension insurance company.
KPK spokesman Budi Prasetyo said the seized cash represents broker fees that were part of investments made by PT Taspen with asset managers that violated regulations.
KPK’s investigation, conducted on October 30-31, 2024, involved searches at two residences and an office in Jakarta affiliated with PT IIM, which allegedly played a role in the scheme.
“KPK searched the home of a director at PT IIM in Koja, North Jakarta, as well as the home of a former director at PT Taspen in South Jakarta,” Prasetyo said, while adding that various documents, letters, and electronic evidence were also secured, on Saturday, November 2, 2024.
The investigation follows KPK’s announcement in March 2024 of a probe into alleged corruption involving fictitious investments and a reported Rp1 trillion investment fund placement at PT Taspen.
The alleged scheme involves multiple companies and has reportedly caused hundreds of billions of rupiah in state losses.
Several individuals have been named as suspects, though KPK has yet to disclose their identities or details pending the next steps in the legal process.
In March, KPK imposed a foreign travel ban on two individuals, including a state official and a private party, while gathering additional evidence.
Documents, electronic devices, and foreign currency seized during the initial raids are expected to provide crucial insights into the case.
