Article: Indonesian tycoon sentenced to life in jail for stock manipulation

Article - Media, Publications

Indonesian tycoon sentenced to life in jail for stock manipulation

Tabita Diela, 27 October 2020

JAKARTA, Oct 27 (Reuters) – An Indonesian graft court has sentenced businessman Benny Tjokrosaputro to life in prison for a stock manipulation scheme that helped trigger losses of more than $1 billion at state insurer Asuransi Jiwasraya, state news agency Antara said.

Three of the insurer’s executives were among the five other defendants sentenced to life terms in one of Indonesia’s biggest anti-graft trials by a special corruption court in Jakarta, the capital.

Tjokrosaputro, who had made international headlines with a $1-billion lawsuit he once filed against Goldman Sachs, was ordered to pay compensation of 6 trillion rupiah ($410 million) at his sentencing on Monday, the agency added.

The court found Tjokrosaputro, chief commissioner of property developer Hanson International, guilty of corruption and money laundering by conspiring with other investors to inflate shares in Indonesia’s main equity market. Continue reading “Article: Indonesian tycoon sentenced to life in jail for stock manipulation”

Article: S.E.C. Inquiry on Hedge Fund Draws Scrutiny

Article - Media

S.E.C. Inquiry on Hedge Fund Draws Scrutiny

Walt Bogdanich, Gretchen Morgenson

New York Times, 22 October 2006

By the evening of June 20, 2005, the government’s investigation of possible insider trading by Pequot Capital Management, a prominent hedge fund, had reached a critical stage.

Throughout the day, Robert Hanson, a branch chief in the Washington office of the Securities and Exchange Commission, had been questioning his lead investigator in the case about taking the testimony of John J. Mack, an influential Wall Street executive.

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