The bank disbursed the loan in 2016 to a wig-making company owned by Wonowidjojo’s family, Setiawan added. The case involves a total of 1 trillion rupiah of funds when including loans from other lenders, he said.
A representative for Gudang Garam didn’t immediately respond to requests for comment and calls to the company’s office were not answered. Gudang Garam shares fell 5.7% on Friday in their biggest drop since Jan 5, ending a four-day gain of nearly 16%. OCBC NISP shares gained 1.3%.
