Former Indonesian Commodity Futures Trading Regulator Faces 10 Years in Jail for Corruption
- Syahrul King Sempurnajaya tried to hide the proceeds of his corrupted acts by transferring money to his second wife's account at Bank Central Asia as many as 91 times until 5 April 2013, totalling USD 786 million.
Prosecutors of the Indonesian Corruption Eradication Commission demanded yesterday from the Jakarta court to impose a 10 year prison sentence and a fine of Rp 1 billion against the former head of the country's Commodity Futures Trading Regulatory Agency (Bappebti), Syahrul King Sempurnajaya, who was found guilty of various counts of corruption and Money Laundering Money Laundering Money laundering is a blanket term to describe the process by which criminals disguise the original ownership and proceeds of criminal conduct by making such proceeds appear to be derived from a legitimate source.Money laundering is an issue that traverses countless industries and sectors, which includes the financial services space. Though criminal money may be successfully laundered without the assistance of the financial sector, billions of dollars’ worth of criminally derived money are laund Money laundering is a blanket term to describe the process by which criminals disguise the original ownership and proceeds of criminal conduct by making such proceeds appear to be derived from a legitimate source.Money laundering is an issue that traverses countless industries and sectors, which includes the financial services space. Though criminal money may be successfully laundered without the assistance of the financial sector, billions of dollars’ worth of criminally derived money are laund Read this Term.
During his time as Chief of the Bappebti, Syahrul reportedly managed to raise $9.1 billion by both receiving bribes and extorting funds from investors that were placed in an account under a different name. The money was used to buy an apartment, jewelry, land, cars, opening bank accounts and deposits and foreign currency Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term accounts.
According to the prosecutors, Syahrul also tried to hide the proceeds of his corrupted acts by transferring money to his second wife's account at Bank Central Asia as many as 91 times until April 5, 2013, the smallest transfer value was USD 4.5 million and the largest value was USD 75 million. "Total transfers into this account reached USD 786 million," said the prosecutor.
"After we outline the proof of the existence of criminal acts as defined in the offense charged and outlining criminal liability upon the defendant, then we believe the objective and subjective conditions have been met in sentencing the defendant himself. Therefore, the defendant should be punished," said prosecutor Elly Kusumastuti when reading demands at the Corruption Court, Jakarta, on Wednesday.
Prosecutors of the Indonesian Corruption Eradication Commission demanded yesterday from the Jakarta court to impose a 10 year prison sentence and a fine of Rp 1 billion against the former head of the country's Commodity Futures Trading Regulatory Agency (Bappebti), Syahrul King Sempurnajaya, who was found guilty of various counts of corruption and Money Laundering Money Laundering Money laundering is a blanket term to describe the process by which criminals disguise the original ownership and proceeds of criminal conduct by making such proceeds appear to be derived from a legitimate source.Money laundering is an issue that traverses countless industries and sectors, which includes the financial services space. Though criminal money may be successfully laundered without the assistance of the financial sector, billions of dollars’ worth of criminally derived money are laund Money laundering is a blanket term to describe the process by which criminals disguise the original ownership and proceeds of criminal conduct by making such proceeds appear to be derived from a legitimate source.Money laundering is an issue that traverses countless industries and sectors, which includes the financial services space. Though criminal money may be successfully laundered without the assistance of the financial sector, billions of dollars’ worth of criminally derived money are laund Read this Term.
During his time as Chief of the Bappebti, Syahrul reportedly managed to raise $9.1 billion by both receiving bribes and extorting funds from investors that were placed in an account under a different name. The money was used to buy an apartment, jewelry, land, cars, opening bank accounts and deposits and foreign currency Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term accounts.
According to the prosecutors, Syahrul also tried to hide the proceeds of his corrupted acts by transferring money to his second wife's account at Bank Central Asia as many as 91 times until April 5, 2013, the smallest transfer value was USD 4.5 million and the largest value was USD 75 million. "Total transfers into this account reached USD 786 million," said the prosecutor.
"After we outline the proof of the existence of criminal acts as defined in the offense charged and outlining criminal liability upon the defendant, then we believe the objective and subjective conditions have been met in sentencing the defendant himself. Therefore, the defendant should be punished," said prosecutor Elly Kusumastuti when reading demands at the Corruption Court, Jakarta, on Wednesday.