Another weird decision: Running Illegal banking, embezzle Rp106T ($7 billion) Arguably the biggest financial fraud in Indonesia, get acquittal

[pantaiema]

Indosurya chairman Henry Surya and finance director June Indria were running Illegal banking, taking money from people, embezzle Rp106T ($7 billion) of around 23,000 customers, arguably the biggest financial fraud scandal in Indonesian history, get acquittal. Very weird, I have not heard such judgment in other countries.
This is just one example in English

Attorney General to Challenge Indosurya Acquittal in "Biggest Financial Fraud" Case

The Attorney General's Office estimated a loss of Rp 106 trillion affecting 23,000 Indosurya customers.

jakartaglobe.id

But if you want to use google translate, there are a lot of news about this in Indonesian newspaper since last week.
This is opinion from an expert in Indonesian financial/banking law, and AML (anti-money laundry).
But such crime in finance like this, Robo trading, Binary trading keep happening as there are still reasonable number of Indonesian believe in irrationally much high higher yield than the bank thinking that it is risk free.
People could get high return in investment but the reward will always correlate with the risk the people are taking.

 

[jstar]

According to she who knows everything best, there are two types of acquittal which are foreseen in the Criminal Code of Indonesia (KUH Pidana).

I have not heard such judgment in other countries.

It is from the Dutch Wetboek van Strafrecht voor Nederlands Indië, which is -still- the base of the Criminal Code here.

One is vrijspraak, in which the crime was not properly proven. Then there is ontslag van rechtsvervolging, in which everything in the indictment from the prosecutor was proven. But there can not be a sentence since it was not an act punishable under criminal but in other fields of law, e.g. civil, customary or commercial. And -according to the judges- that’s the case here*.

So yes, this is not a unique ruling or sentence. Of course there are rumors the judges could be bribed but I also saw lawyers making the case they have a point.

It seems the sentiment of the general public is just anger.


* Currently in the Netherlands the ontslag van rechtsvervolging is only applied in cases of ‘force majeure’ (as “he could not help himself”), self-defence, principle of fairness, delusions, irresistible urge, supranational laws, ….

 

[snpark]

This was Indo Surya Finance
It was a ponzi scheme
Old news from 2020 2021