After Jiwasraya Comes Asabri
Investment in low value shares has the potential to cost Asabri up to Rp16 trillion. Comprehensive reforms are needed
AFTER two state insurance companies were caught up in two large-scale fraud cases, with the same group of persons responsible, one cannot deny the chaotic state of affairs of government financial institutions.
The first company, Jiwasraya was defrauded of up to Rp13.7 trillion—equivalent to twice the city of Yogyakarta’s annual budget. In this case, the Attorney General’s Office (AGO) named tycoon Benny Tjokrosaputro a...