LPEI corruption case: Defendants deny fraud allegations

Defendants in the corruption case involving the Indonesia Export Financing Institution (LPEI) have denied allegations of wrongdoing during recent proceedings at the Jakarta Pusat District Court. The case involves suspected corruption in national export financing between 2015 and 2020, with estimated state losses of approximately Rp992.82 billion.

Dwi Wahyudi, a former Managing Director of LPEI, testified that all financing facilities were in good standing during his tenure until December 2018. He claimed that the bad debts involving PT Tebo Indah (TI) and PT Pratama Agro Sawit (PAS) only emerged in 2020, two years after he left the position. Wahyudi maintained that all credit approval processes followed established governance procedures and relied on independent assessments from public accounting and appraisal firms.

Handoko Limaho, owner of PT Tebo Indah, also denied using fictitious documents to secure financing. He argued that the company's actual revenue from palm oil products in 2018 reached Rp71 billion, making the use of fictitious documents illogical. Limaho further asserted that the collateral valuation was conducted legally through a public appraisal firm, adhering to standard banking practices.