Jakarta. The Corruption Eradication Commission (KPK) has uncovered alleged large-scale misuse of an Indonesia Eximbank loan facility issued to Petro Energy, causing an estimated state loss of nearly Rp 1 trillion ($60 million).

Three Petro Energy executives — Chief Commissioner Jimmy Masrin, President Director Newin Nugroho, and Finance Director Susy Mira Dewi Sugiarta — are currently standing trial as defendants in the corruption case.

KPK spokesperson Budi Prasetyo said on Tuesday that the Eximbank financing facility was intended solely for working capital related to diesel fuel trade and distribution. However, a forensic audit completed in July 2025 found that 90.03 percent of the total financing had been misappropriated.

According to the audit, 49.15 percent of the loan — equal to Rp 503.31 billion — was used to pay Petro Energy’s debts to Bank DBS, Bank Permata, and other creditors.

“Another 41.88 percent, or Rp 428.84 billion, was diverted to companies affiliated with JM, who served as Petro Energy’s president commissioner,” Budi said.

The three defendants are accused of creating fictitious contracts to support the working-capital export loan, submitting purchase orders and invoices that did not reflect actual conditions, and using the credit facility for purposes unrelated to its approved objective.

A separate calculation by auditors at the Financial and Development Supervisory Agency (BPKP) concluded that Indonesia Eximbank suffered losses of approximately Rp 966 billion.

“KPK will trace every rupiah of the misappropriated funds and ensure they are recovered for the state,” Budi said.

He added that KPK felt it necessary to publicly disclose the forensic-audit findings as part of its commitment to transparency.

“These facts must be communicated to prevent speculation and misinformation. The public has the right to accurate and reliable information,” he said.
 

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