Indonesian tycoon sentenced to life in jail for stock manipulation | Malay Mail

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JAKARTA, Oct 27 — An Indonesian graft court has sentenced businessman Benny Tjokrosaputro to life in prison for a stock manipulation scheme that helped trigger losses of more than US$1 billion (RM4.2 billion) at state insurer Asuransi Jiwasraya, state news agency Antara said. Three of the...

Tuesday, 27 Oct 2020 04:41 PM MYT

Three of the insurer’s executives were among the five other defendants sentenced to life terms in one of Indonesia’s biggest anti-graft trials by a special corruption court in Jakarta, the capital. He made arrangements with Jiwasraya executives to invest in stocks and then used gains to buy properties and foreign currencies, the agency said, citing court documents.

 

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