Budi Said's Sentence Increased to 16 Years in Antam Gold Corruption Case

INDONESIAUPDATES.COM, News En – The Jakarta High Court has increased the sentence of Budi Said, a crazy rich businessman from Surabaya, to 16 years in prison after an appeal ruling. Budi Said was found guilty of corruption related to the sale of gold bullion from PT Antam Tbk, resulting in a state financial loss of IDR 1.07 trillion.

The Chief Judge, Herri Swantoro, confirmed the harsher sentence after considering the appeal filed by both the public prosecutor and the defendant’s legal counsel. “The court has modified the judgment of the Corruption Court at the Central Jakarta District Court concerning the length of the sentence,” Herri stated in the appeal ruling received on Friday (21/2/2025).

In addition to the 16-year prison sentence, the court imposed a fine of IDR 1 billion with a substitute of six months in prison. However, the court increased the additional penalty in the form of restitution, ordering Budi Said to pay 1,136 kilograms of Antam gold, valued at IDR 1.07 trillion, based on the cost of production of Antam gold in December 2023. The restitution amount was initially set at 58.841 kilograms or IDR 35.53 billion.

“If the defendant cannot pay the restitution, his assets may be seized and auctioned to cover the restitution. If there are no sufficient assets, the remaining balance will be served as an additional 10 years in prison,” the Chief Judge explained.

In handing down the appeal judgment, the court took into account aggravating factors, such as Budi Said’s actions undermining the government’s anti-corruption program and harming the sense of justice in the public.

Earlier, the Jakarta Corruption Court had sentenced Budi Said to 15 years in prison, a fine of IDR 1 billion, and additional restitution of 58.841 kilograms of Antam gold or IDR 35.53 billion, with a substitute sentence of eight years in prison.

Budi Said was found guilty of corruption and money laundering for accepting an additional 58.13 kilograms of Antam gold, valued at IDR 35.07 billion, that was not in accordance with the sales invoice and was not paid to Antam. He also engaged in money laundering by concealing transactions involving the sale of Antam gold and using the proceeds as capital for CV Bahari Sentosa Alam.

The case highlights large-scale corruption involving a wealthy entrepreneur, with significant implications for the state’s financial stability. Budi Said violated Article 2 paragraph (1) and Article 18 of Law No. 31/1999 on the Eradication of Corruption Crimes, as amended by Law No. 20/2001, as well as Article 3 of Law No. 8/2010 on the Prevention and Eradication of Money Laundering Crimes.

FAQ: Budi Said’s Increased Sentence in the Antam Gold Corruption Case

Why was Budi Said sentenced to 16 years in prison?
Budi Said was sentenced to 16 years in prison after the Jakarta High Court increased his sentence following an appeal. He was found guilty of corruption related to the sale of Antam gold, which caused a state financial loss of IDR 1.07 trillion.
What additional penalties did Budi Said receive?
In addition to his 16-year prison sentence, Budi Said was fined IDR 1 billion with a substitute six-month prison sentence. He was also required to pay restitution of 1,136 kilograms of Antam gold, valued at IDR 1.07 trillion.
What happens if Budi Said cannot pay the restitution?
If Budi Said cannot pay the restitution, his assets will be seized and auctioned to cover the payment. If he does not have enough assets, he will face an additional 10 years in prison.
What was Budi Said’s involvement in the case?
Budi Said was found guilty of corruption and money laundering. He accepted more gold from Antam than was documented in the sales invoice, amounting to 58.13 kilograms of gold, and did not pay Antam for it. He also concealed transactions and used the proceeds for his business ventures.
What factors influenced the court’s decision to increase his sentence?
The court considered aggravating factors such as Budi Said’s actions not supporting the government’s anti-corruption program and harming the public’s sense of justice.
How much state money was lost due to Budi Said’s actions?
Budi Said’s corruption and money laundering activities resulted in a state financial loss of IDR 1.07 trillion.
Was Budi Said’s original sentence 15 years in prison?
Yes, the original sentence handed down by the Corruption Court in Jakarta was 15 years in prison, a fine of IDR 1 billion, and restitution of 58.841 kilograms of Antam gold. The Jakarta High Court increased the prison sentence to 16 years upon appeal.
Was Budi Said involved in money laundering?
Yes, Budi Said was convicted of money laundering, specifically for hiding the transactions related to the sale of Antam gold and using the proceeds as capital for his business, CV Bahari Sentosa Alam.