Skip to content 
INDONESIAUPDATES.COM, News En – Antonius Nicholas Stephanus Kosasih, former President Director of PT Taspen, has been charged with causing state losses amounting to Rp1 trillion in an alleged fictitious investment case involving Taspen. Kosasih was charged alongside Ekiawan Heri Primaryanto, former President Director of PT Insight Investment Management (PT IIM), who is also suspected of benefiting from the corruption proceeds.
“The unlawful actions committed by the defendants together have caused financial losses to PT Taspen amounting to IDR 1 trillion or at least that amount based on the audit report from the Republic of Indonesia’s Audit Board (BPK),” said the KPK prosecutor during the indictment reading at the Jakarta Corruption Court on Tuesday (27/5/2025).
The prosecutor stated that Kosasih and Ekiawan invested in the I-Next G2 mutual fund from PT Taspen’s portfolio without supporting investment analysis results, classifying their actions as unlawful and causing state financial losses.
“They have committed unlawful acts by investing in the I-Next G2 mutual fund to issue Sukuk Ijarah TPS Food 2 in 2016, referred to as Sukuk SIA-ISA 02, which defaulted from PT Taspen’s portfolio without being supported by investment analysis recommendations,” explained the prosecutor.
Furthermore, the prosecutor criticized Kosasih’s unprofessional management of Taspen’s investments. Kosasih approved revisions to the board of directors’ regulations on PT Taspen’s investment policy to accommodate the release of Sukuk SIA-ISA 02 through the I-Next G2 mutual fund investment.
“He revised and approved the board of directors’ regulations concerning the investment policy by regulating the investment asset conversion mechanism to facilitate the release of Sukuk SIA-ISA 02 through the I-Next G2 mutual fund together with Ekiawan Heri Primaryanto, who managed the I-Next G2 mutual fund investment unprofessionally,” the prosecutor added.
The prosecutor also revealed that Kosasih personally benefited from the actions, receiving profits worth Rp34.3 billion in various foreign currencies, which convert to approximately Rp34.4 billion in Indonesian Rupiah.
“He enriched himself by Rp28.45 billion and foreign currencies including US$127,037, S$283,000, €10,000, THB 1,470, £20, JPY 128,000, HKD 500, and KRW 1.26 million,” the prosecutor said.
In addition, Ekiawan gained US$242,390, and Patar Sitanggang received Rp200 million from the corrupt acts. Several companies were also enriched, with some benefiting hundreds of billions of rupiah.
“The corporations enriched include PT IMM by Rp44.2 billion, PT KB Valbury Sekuritas Indonesia by Rp2.46 billion, PT Pacific Sekuritas Indonesia by Rp108 million, PT Sinar Emas Sekuritas by Rp40 million, and PT Tiga Pilar Sejahtera Food Tbk (PT TPSF) by Rp150 billion,” concluded the prosecutor.
Kosasih and Ekiawan have been charged with violating Article 2 paragraph 1 or Article 3 in conjunction with Article 18 of the Corruption Law along with Article 55 paragraph 1 point 1 of the Criminal Code.
FOLLOW INDONESIAUPDATES.COM ON GOOGLE NEWS
