Wednesday, January 7, 2009

Sarijaya bosses can't escape

Jakarta: The capital market and control of financial institutions Agency (Bapepam-LK) is not easy to accept a request made by PT Sarijaya Permana Sekuritas senior employees of an alleged fraud in the management of its funds had only by the owner, broker issue. 

Bapepam-LK Fuad Rahmany President stressed Wednesday Sarijaya management must also be held responsible in respect of the alleged embezzlement of at least 245 billion Rupiah (22.5 million U.S. dollars) of money from investors. 

Fuad claimed management fully informed of the actions undertaken by Herman Ramli Sarijaya owner about the abuse of customer accounts in the pursuit of private interests, and have been able to prevent such practices. 

"The management should take the responsibility. It is their fault to be monitored (by the owner) for fraudulent practices. This is proof that they are not professional." 

"They should not allow other people to intervene in their (banks), especially those who have no power to enforce the management (the bank)," said Fuad. 

Sarijaya is 100 percent owned by Herman, who serves as chairman of the audit. 

Under the existing legislation on business, the chairman of the commissioners have no power to get involved in managing the daily operations of a company. 

Bapepam plans at the request of the Board of Directors Sarijaya soon. 

Sarijaya Director Zulfian Alamsyah said earlier that it was Herman, and that management had no knowledge of his misconduct. 

Herman, the younger brother of Rudy Ramli, former founder of the former Bank Bali, was in police custody since December 24 for alleged financial fraud. 

He allegedly funneled money to the investor up to 17 new accounts under different names and accounts used to benefit from trading on the stock exchange. 

The Indonesia Stock Exchange (idx) Sarijaya suspended since January 6. 

Meanwhile, the management announced Wednesday Sarijaya a number of investors have shown interest in purchasing the company, one of the largest in the country, with 48 branches of securities houses in Java, Bali, Sumatra, Kalimantan and Sulawesi. 

Among them is a consortium of investors from Hong Kong, Melbourne, Australia and Indonesia. 

A representative of the consortium Four Jamal said some Rp 400 billion is for the acquisition of Sarijaya. These include Rp 250 billion for the restructuring and to recover the rest of Rp 150 billion for the extension. 

"The consortium has no connection with the owner. There will be no acquisition of permits for owners 

However, Bapepam said it would carry out a screening to determine who should be eligible investors in securities. 

Until now, there are four other investors are interested in buying Sarijaya the authorities refused to name the investors because of the need for confidentiality. 

Sarijaya The fraud is the latest to date with respect to securities houses. Previously, PT Antaboga Delta Sekuritas has been indicted for abuse of funds investors value Rp 1.4 trillion.

To prevent such acts from happening again, the idx has a new system, so that all investors should monitor their accounts and assets held by the central securities depository Indonesia (KSEI). 

Currently, the houses are not securities report for clients and regulators at the same time, an end of May that opportunities for fraud. 


Idx suspend dinar Sekuritas 

Idx Wednesday suspended the operation of the securities house PT Sekuritas dinar to the company's request to the restructuring. 

Idx President Erry Firmansyah rejects the assumption that the suspension was made in conjunction with the exhibition of the famous firm Bakrie based chain. 

Sarijaya dinar and among the securities houses that were involved in the purchase of the promised PT Bakrie & Brothers of Rp 35 billion and Rp 30 billion, respectively, in exchange for shares in Bakrie. 

Bapepam is investigating 49 securities houses by irregularities.

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