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

bappebtiProsecutors 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.

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 accounts.

Join the iFX EXPO Asia and discover your gateway to the Asian Markets

Suggested articles

Why Ethereum Needs Layer 2 Solutions More Than EverGo to article >>

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.

Got a news tip? Let Us Know