VIVAnews - Indonesian Police apprehended one of Bank Century's founders Robert Tantular. The businessman that possesses Bank Century through several companies, including First Gulf Asia Holdings, was arrested in his office in Senayan, South Jakarta, said Commissioner General Susno Duadji in a press conference, Thursday, Nov 27.
Robert is currently at the Indonesian Police Headquarter’s detention. He was arrested in his office in Senayan. The arrest occurred without any resistance. It was led by Chief of Unit II Adjutant Chief Commissioner, Mudi.
Robert Tantular is a controlling shareholder of PT Bank Century Tbk, which is now being taken over by the government through the central bank, Bank Indonesia (BI), and Indonesia Deposit Insurance Corporation (LPS).
According to BI Deputy Governor Siti Chalimah Fadjrijah, two other controlling shareholders are Hesham Alwarraq of Saudi Arabia and Rafat Ali Rizki of Pakistan.
VIVAnews investigation reveals that Robert owns Bank Century through PT Century Mega Investindo with an ownership of 9.00 percent and PT Century Superinvestindo by 5.64 percent. Both companies are the shareholders of Bank CIC, a merged bank of Bank Pikko and Bank Danpac, which then became Bank Century.
Prior to being merged, Bank CIC had once been specially monitored by Bank Indonesia because the bank suffered from capital deficiency due to drastically increased nonperforming loans. The capital adequacy ratio plunged to minus 83 percent and was required to be stimulated by Rp 2.67 trillion (approx. US$220.7 million).
In 1999, Bank Indonesia stated that he did not pass the fit and proper test. In a provision, if one does not pass such test, one cannot be a controlling shareholder.
Before being arrested, Robert, along with other Bank Century executives, has been banned from traveling abroad by the Directorate General of Immigration. He was not to leave the country as of 21 November 2008.
He was named suspect for having violated article 50 of Law No.10/1998. The article stipulates that an affiliated party who does not deliberately implement immediate measures needed to make sure that the bank conforms with the law’s provision as well as other regulations on bank, shall be sentenced to minimum three years of imprisonment and eight years maximum, as well as a fine of between Rp 5 billion (approx. US$413,000) and Rp 100 billion (approx. US$8.3 million)
VIVAnews writers Ismoko Widjaya, Desy Afrianti, Heri Susanto, Nur Farida Ahniar and Umi Kalsum contributed to this article
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