Wednesday, 15 February, 2012 | 13:33 WIB
Nazaruddin’s Shares Can Be Suspended, Says IDX
TEMPO Interactive, Jakarta:The Indonesia Stock Exchange (IDX) management said that the remaining shares of national airline company Garuda Indonesia owned by Muhammad Nazaruddin can be seized if required by the law enforcement. “Shares, although intangible, are like money. So, they can be seized,” said Eddy Sugito, the IDX Director of Listing, on Tuesday.
Eddy said that law enforcement can trace the funds used to purchase Garuda Indonesia shares. If the funds were proven to be coming from illegal source, the shares can be seized. “It depends on the legal proceedings,” Eddy added.
Nazaruddin, a defendant implicated in the SEA Games athletes’ village project scandal in Palembang, has been subjected to money laundering article in the purchase of Garuda Indonesia IPO. Nazaruddin conducted the purchase in early 2011 through five of his companies: Permai Raya Wisata, Exartech Technology Utama, Cakrawaja Abadi, Darmakusumah, and Pacific Putra Metropolitan.
RINA W | SUTJI DECILYA | EFRI RITONGA