An Indonesian corruption court on Thursday found businessman Benny Tjokrosaputro guilty in a stock manipulation case involving state insurance firm Asabri and fined him 5.7 trillion rupiah ($371.67 million).
Tjokrosaputro was spared a jail term because he is already serving a life sentence over a separate case in 2020 linked to hundreds of millions of dollars of investment losses at another insurer Asuransi Jiwasraya, Ignatius Eko Purwanto, who led a panel of judges, said.
Tjokrosaputro made international headlines in 2018 when he sued Goldman Sachs for $1 billion over the ownership of shares in an Indonesian company, a case he won at a lower court but lost at the Supreme Court a year later. Prosecutors accused Tjokrosaputro of controlling Asabri's investment decisions between 2012 and 2019, leading to 22.78 trillion rupiah of losses for the state.
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