•    HOME   
•    NEWS   
•    BUSINESS   
•    INTERNATIONAL   
•    TECH   
•    SPORTS   
•    LIFE & TIMES   
•    OPINION   
•    MY JAKARTA   
•    BLOGS   

Public pressure has been building for the Corruption Eradication Commission to take over police investigations into the collapse and bailout of PT Bank Century.

On Friday, at least 20 bank depositors visited the headquarters of the commission, known as the KPK, to demand the transfer of the police investigations to the KPK.

Anti-graft groups and some politicians also have demanded that the KPK take charge of investigating the collapse and controversial Rp 6.7 trillion ($716.9 million) bailout of the bank, which has been renamed PT Bank Mutiara.

The National Police and the Attorney General’s Office (AGO) have charged only the bank’s principal owner, Robert Tantular, with wrongdoing related to the bank’s failure.

He received four years in prison for violation of banking laws. The sentence was widely criticized as too lenient.

The depositors, who were all unable to withdraw money from their accounts, argued that money was embezzled from the bank. The bank’s collapse was partly triggered after investors lost $1.4 billion through a fraudulent investment scheme offered through an affiliated company, PT Antaboga Delta Sekuritas.

“Just because the bank has been taken over [by the government], they can’t just get away with it,” said Esther, a who had over Rp 700 million ($74,900) deposited at the bank.

“The KPK must fully investigate where our money went. Also, how come our insurance pay ment has been stalled?” said Hendri, another Century depositor who had Rp 1.5 billion in the bank.

Represented by lawyer Gigih Guntoro, the depositors filed a joint complaint at the KPK on Friday. Gigih said the KPK could resolve the case.

“We have more faith in the KPK because the police and the AGO failed us and they failed in unravelling the case,” he said.

KPK adviser Said Ali Abidin met with depositors behind closed doors and promised to investigate. Earlier, the KPK had expressed interest in taking over parts of the investigation, particularly those possibly linked to corruption.

The commission has obtained a wiretapped conversation between a senior police officer handling the Century case and a politically connected tycoon, Boedi Sampoerna, in a bid to safely withdraw Rp 2 trillion deposited at the bank in return for a Rp 10 billion payoff.

KPK interim chief Tumpak Hatorangan Panggabean, however, has said the KPK was waiting for the Supreme Audit Agency (BPK) to conclude its investigation, which is expected by the end of the year.

The bailout has been widely criticized. Politicians have blamed Finance Minister Sri Mulyani Indrawati and Vice President Boediono, two of President Susilo Bambang Yudhoyono’s closest aides.

The authorization of the bailout came from Bank Indonesia, of which Boediono was governor at the time.

Sri Mulyani was criticized for bailing out the bank, which was originally proposed to be liquidated during a hearing with the House of Representatives.

Boediono was criticized for the central bank’s failure to monitor the bank properly before it collapsed.

Boedi and Hartarti Murdaya, another big depositor, were major financial supporters of Yudhoyono’s reelection campaign. Members of the opposition in the government suspect this to be the real reason for the controversial bailout.