Disappearance of the money had something to do with
embezzlement and conspiracy by staff members of both
The Elnusa Case on September 7, 2009 with a recept of a
cash flow from one of the banks in Jakarta. The instruction
received in Bank Mega was that the funds are intended for
'on call' (DoC) Deposits. Director of Complience and Risk Explanation from Bank Mega's POV
Management of Bank Mega said that Bank Mega never
received fund placement in time deposit, so there is no
monthly interest payment. The document of fund itself comes
from the customer, PT Elnusa, signed by Director of Finance
and President Director and handed over to the KCP Leader
of Bekasi Jababeka
Both PT Elnusa and Bank Mega didn't carry out the principles
of good corporate governance properly such as
transparency, accountability, responsibility,independency,
and fairness Conclusion
The supervisory system and GCG system need to be
improved either by Bank Mega or PT Elnusa in order to
reduce the opportunity to commit fraud and the sense of
awareness of each individual associated with financial and
banking institutions is always to keep the code of ethics and Suggestions
profession
Elnusa and Bank Mega which are Itman Hari Basuki (Branch
Head of Bank Mega), Santun Nainggolan (Director of
FinancePT Elnusa), IF (Directors of PT Discovery dan
Commmissioner of PT Harvest, HG (Directors of PT
Discovery, RL (brokerage), TZS (Staff of collections of PT
Who did it? Harvest)
PT Elnusa is suspected of deposits embassled by Bank
Mega officer and PT Elnusa deposits at Bank Mega have
**Explanation from PT Elnusa's POV
disappeared. The Elnusa party went to Bank Mega to
Case of Elnusa withdraw the deposit funds, but the Bank informed that teh
fund was not available because it had been disbursed. The
depsot worth a total of Rp. 111 billion.
Court of Justice stated that Bank Mega has been proven to
be unlawful for disbursing the deposits owned by Elnusa
withoou the owners' knowledge. PT Elnusa's deposits had
been disbursed to other parties including PT Discovery
Indonesia dn PT Harvest. The disbursement was done by
What the courts said? making false document signed on behalf of the Finance
Director of Elnusa, Santun Nainggolan and Branch Head of
Bank Mega, Itman Hari Basuki.
Lack of supervision by BOC of PT Elnusa so they were
initially unaware that their deposit money at the Mega Bank
had lost
Bank Mega as financial service institution which is obligated
to act carefully in order to keep the public trust didn't do that.
Bank Mega showed the act of negligence regarding Elnusa's
Case analysis deposits disbursement by not checking the disbursement of
Elnusa's fund properly
Fraud was done by top management, therefore the
supervisory system by BOC isn't effective enough to prevent
the fraud happening
The transparacy and openness by Bank Mega isn't
transparant enough