The company, which was established during the Dutch colonial period, has had to delay payment of claims under the JS Proteksi plan totaling Rp802 billion. The state auditor needs to investigate the possibility of illegal practices behind the high-risk share investment scheme that ended up throttling the company.

Jiwasraya appeared to be in good shape when it was headed by Hendrisman Rahim. Alongside him was Harry Prasetyo as finance director. M