Owner of Bank Century arrested

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November 27th, 2008 alaksir Posted in Business news, Current events, Indonesian news in English |

Robert Tantular, an owner of Bank Century, which is currently under control of the government’s Deposit Guarantee Agency, was arrested by the police on Tuesday night (25 Nov).

Tantular is a member of the founding family of Bank CIC, which later merged with Bank Pikko and Bank Danpac to become Bank Century in 2004. He is one of three Bank Century executives and owners currently wanted by the police, although police and government authorities previously stated there was no instruction for any arrest in relation to the bank’s government takeover.

Tantular is charged with violating the Indonesian banking law and could face up to 15 years of imprisonment and Rp200 billion (about US$16 million) in maximum fine.

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