Headline: Budi Said Sentenced to 15 Years for 1.1 Ton Gold Corruption Case Worth Rp 1.1 Trillion
Subhead: ‘Crazy Rich’ Surabaya Man Found Guilty of Manipulating Gold Sales at PT Antam
Article:
In a landmark verdict, the Jakarta Corruption Court has sentenced Budi Said, also known as "Crazy Rich Surabaya," to 15 years in prison for his role in a gold corruption case involving state-owned miner PT Antam. The case, which has gripped the nation, resulted in a loss of Rp 1.1 trillion (approximately USD 78 million) to the state.
The court, in its decision read out on Friday (27/12/2024), found Budi Said guilty of corruption and money laundering. The judge stated, "We sentence the defendant to 15 years in prison and a fine of Rp 1 billion. If the fine is not paid, it will be replaced with an additional six months imprisonment."
In addition to the imprisonment, Budi Said was also ordered to pay compensation to the state in the form of 58.135 kg of Antam gold, equivalent to Rp 35.078.291.000 (approximately USD 2.5 million). If he fails to do so within a month, his assets will be seized and auctioned off.
The court considered several factors in reaching its decision, including Budi Said’s family responsibilities and his cooperative behavior during the trial. However, the primary factor was the significant financial loss incurred by the state due to Budi Said’s actions.
Budi Said was initially charged with 16 years in prison and a fine of Rp 1 billion by the prosecution. However, the court reduced the sentence by one year. The court also found that Budi Said had not purchased the 1.136 kg (1.1 ton) of gold from PT Antam, and thus, the company had no obligation to provide the gold to him.
The case has sparked public outrage and highlighted the need for stricter penalties against white-collar crimes in Indonesia. Budi Said’s high-profile trial and sentence have sent a strong message to potential offenders that corruption will not be tolerated.
Keywords: Budi Said, Corruption, PT Antam, Jakarta Corruption Court, Gold, Money Laundering, Indonesia
Meta Description: Budi Said, known as ‘Crazy Rich Surabaya,’ has been sentenced to 15 years in prison for his role in a Rp 1.1 trillion gold corruption case at PT Antam. The court also ordered him to pay compensation in the form of gold and fines.
