Legal Expert Jiwasraya’s Value of Loss is Not Due to Benny Tjokro’s Deeds

Jakarta, IDN Times – Legal practitioner Ricky Vinando defended the defendant in the alleged corruption case of PT Asuransi Jiwasraya, Benny Tjokrosaputro. In his view, Ricky considered the problems in Jiwasraya to have arisen since 2002.

“But if you want to be honest, since 2002 Jiwasraya’s finances have made Jiwasraya dizzy seven around,” Ricky said in his written statement Saturday (6/27).

However, didn’t Benny also benefit from the corruption case of the state-owned insurance company?

1. Jiwasraya’s financial problems have occurred since 2002

BETWEEN PHOTOS / Galih Pradipta

According to his notes, Ricky saw that in 2002, Jiwasraya had experienced smaller reserves than it should have been Rp2.9 trillion. Then the findings are reported to shareholders, namely the Ministry of SOEs. Then, in 2004 there was a failure to pay up to Rp2,769 trillion.

Problems continued in 2006, negative company equity of IDR3.29 trillion and assets owned were far smaller than liabilities.

“Then the BPK gave a disclaimer opinion or did not express an opinion for the 2006-2007 financial statements because the presentation of reserve information could not be trusted,” said Ricky.

In 2008, the company’s deficit swelled to Rp5.7 trillion. “The Capital Market and Financial Institution Supervisory Agency / Bapepam-LK asks companies to submit alternative solutions for short-term comprehensive and fundamental solutions,” continued Ricky.

Also Read: Prosecutor: Jiwasraya Corruption Funds Are Also Used to Pay Casino Gambling

2. The JS Saving Plan Program is claimed to be the culprit of Jiwasraya’s loss

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Legal Expert Jiwasraya's Value of Loss is Not Due to Benny Tjokro's DeedsDock. BUMN Public Relations

In 2012, exactly 18 December, Bapepam-LK granted a permit to issue JS Saving Plan products, bancassurance products (insurance services offered through banks) with BTN, KEB Hana Bank, Central Java BPD, East Java BPD and DIY BPD. This product has guaranteed return 12 percent per year and is believed to be the main culprit Ricky failure to pay Jiwasraya.

As of December 31, 2012 with the financial re-insurance scheme, Jiwasraya still recorded a surplus of Rp1.6 trillion, but without the re-insurance scheme, Jiwasraya experienced a deficit of Rp3.2 trillion.

“From this fact, it is clear that Jiwasraya has been experiencing financial problems since 2002 and the problem has intensified since the JS Saving Plan was launched with high interest rates exceeding deposit rates. It’s all Jiwasraya’s own sin, don’t lie just open everything, “said Ricky explained.

3. JS Saving Plan is assessed by digging a manhole cover

Legal Expert Jiwasraya's Value of Loss is Not Due to Benny Tjokro's Deeds(Jiwasraya Life Insurance Building, Cikini, Jakarta) IDN Times / Irfan Fathurohman

The issuance of the JS Saving Plan was considered by Ricky as Jiwasraya’s way to get money with a hole-digging hole cover scheme. In other words, the new money entered is used for the interests of Jiwasraya against old customers whose claims are due every year. “It’s all those who fail to pay tens of trillions about the JS Saving Plan interest. So, Benny Tjokro really has absolutely no involvement in the Jiwasraya case, “he said defensively.

He criticized why the investigation of the Jiwasraya case did not take more into account the incident since 2002.

“If you want fair The Attorney General is brave enough not to open everything from 2002, including those Jiwasraya, who bought the shares of the big group, which now only has a heavy price. Open all of them. Don’t lie. Don’t enforce the law by sacrificing innocent people like Benny Tjokro. Later, investors will be afraid to see such a style of law enforcement, “he said.

Ricky said the government must be careful in law enforcement because it was also monitored by foreign investors.

Also Read: Jiwasraya Customers: If It wasn’t for Us, Jiwasraya Bankrupt!

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