Semarang. The Central Java Prosecutor's Office has detained DP, an employee of a state-owned bank in Purbalingga, on charges of embezzling customer deposits to invest in cryptocurrency.

Central Java Prosecutor Ponco Hartanto said in Semarang on Monday that the state has suffered losses amounting to Rp 11.2 billion ($691,000) due to DP's actions.

According to Hartanto, the crime, committed by the marketing employee of the state-owned bank in Purbalingga, occurred between July and September 2023.

The accused is alleged to have offered fictitious deposit programs to customers with a promised cashback of 1 to 2 percent. DP withdrew the customer deposits without the owners' knowledge and used the funds to invest in cryptocurrency.

“The customers' deposit money was already entered into the bank system as deposit accounts,” Hartanto said.

However, Hartanto added, the cryptocurrency trading conducted by DP resulted in losses, and the withdrawn funds could not be recovered.

Under Law No. 31/1999 as amended by Law No. 20/2001 on the eradication of corruption, DP could be sentenced to a minimum of 4 years and a maximum of 20 years in prison.