The former CEO of Sritex called Graft suspect in RP3.58 T Bank -Kreditskandal

The General Prosecutor's office (before) has appointed Iwan Setiawan Lukminto, the former president of the textile giant Pt Sri Rejeki Isman (Sritex), as a suspect in a major corruption case with a major corruption case that overall participated more than RP3.58 Billion (225 US dollar).

The indictment announced on Wednesday, May 21, 2025, focuses on the alleged abuse of operating capital loans, which was extended by PT Bank Pembangunan Daerah Jawa Barat Dan Banten (Bank BJB) and PT Bank DKI to Sritex and its subsidiates between 2020 and 2022.

“In view of sufficient evidence, we named three people as a suspect in the case of corruption in relation to the output of credit facilities to Sritex by Bank BJB and Bank DKI,” said Abdul Qohar, director of investigations in the Junior Atorney General for Special Crimes (Jampidsus), said on Wednesday, the 21st Century, May 21, on May 21, on May 21, the 21st century, May 21, May 21, 2025.

In addition to Iwan, former DKI President Zainuddin Mapa and the former head of the Corporate and Commercial Division at Bank BJB Dicky Syahbandinata were also suspected in the case.

According to the public prosecutor, the outstanding remaining amount of necessary loans from the affected banks reached RP3 RPILL from October 2024. They include Bank Jateng, 543.98 billion RP by Bank BJB, RP149.79 billion RP by Bank DKI, 2.5 trillion RP from a syndicate of the state lender: Bank BNI, Bank BRI and LPEI (Indonesia Eximbank).

The preparations also showed that Sritex had also taken on loans from 20 private banks, although details on these institutions were not announced.

Violation of banking regulations

The investigators said that the loan permits had violated several bank regulations, including the Bank Act and the internal standard procedure. An important point of concern was Sritex's creditworthiness, which is reported to BB – to a higher risk of default.

“Credit without collateral should only be granted to the borrowers with a minimum rating,” emphasized Qohar.

In Sritex 'case, the loans were issued without sufficient collateral and could not correspond to basic supervisory standards. In addition, the credit funds were allegedly derived from their intended use as operating capital and instead used to repay debts and to buy not productive assets.

“As a result, the loans were not fulfilled and the pledged assets were not sufficient to regain the losses. Some assets were not even used as collateral,” Qohar quoted.

The case has triggered another examination of governance and risk management in the Indonesian banking sector, especially in terms of state and regional development banks. The moving of the prepared underlines the growing efforts to enforce stricter accountability for financial institutions and corporate loans with regard to increasing concerns about systemic risk.

In the course of the investigations, the AGO has not excluded the possibility that additional suspects or financial institutions are involved.

“This is a complex case with far -reaching implications. We are obliged to pursue justice and regain losses for the state,” concluded Qohar.