[Bluebull]

AN Indonesian court has sentenced palm oil tycoon Surya Darmadi to 15 years in prison and fined him a record 41.9 trillion rupiah (S$3.71 billion) — the first time a penalty for corruption was determined based on losses to the economy, on top of losses to the state.

The owner of Duta Palma group has been convicted of corruption, money laundering and tax evasion. He had bribed officials in Sumatra to allow his companies to grow oil palm trees on land previously declared as natural forest, and on land that his companies did not have proper permits to cultivate. The total area of land involved is more than 36,000ha.

Surya, 71, has been ordered to pay 2.2 trillion rupiah for inflicting losses from potential taxes and other income that the state could have received from plantation companies with proper permits. He also has to pay another 39.7 trillion rupiah for losses to the economy as a result of his action, according to the Feb 23 


https://www.businesstimes.com.sg/interna...ft-penalty