Chinese executives suspects in fraud linked to Sinopec
Print Edition
INDONESIAN police said yesterday that Interpol had issued red notices, the closest to an international arrest warrant, for three Chinese executives suspected of fraud linked to a more than US$800 million Sinopec oil terminal development in Indonesia.
China Petroleum and Chemical Corp, or Sinopec, is the second major Chinese state oil firm in less than three years to find staff facing allegations of corruption in Indonesia, where the resources sector is riddled with graft and legal and contractual uncertainty.
“The three red notices have been published for those wanted people,” said National Police spokesman Boy Rafli Amar.
Indonesian authorities filed a request for Interpol assistance on February 21 regarding the three executives, suspects in the alleged embezzlement of an undisclosed sum of money from the West Point Terminal project, Amar said. He identified the three as West Point Terminal finance director Zhang Jun, chief executive Feng Zhigang and chairman Ye Zhijun.
In a statement, Sinopec said it had not received any red notices from Interpol, was checking relevant information about the project and that the company and its subsidiaries operated in accordance with the law.
Chinese foreign ministry spokeswoman Hua Chunying said she had seen reports about the red notices, but was not aware of specifics.
Interpol’s General Secretariat press office said it did not “comment on specific cases or individuals except in special circumstances.”
A red notice is a request to locate and provisionally arrest an individual pending extradition. It is not an international arrest warrant as Interpol cannot compel any member country to arrest an individual who is the subject of a red notice.
Defrizal Djamaris, a lawyer representing West Point Terminal’s 5 percent stakeholder, PT Mas Capital Trust (MCT), said MCT reported suspicions of fraud to local police in 2015.
The red notices were issued because the three executives had left the country and “not cooperated” with local police investigations, Djamaris said.
The West Point Terminal was touted to be Southeast Asia’s largest and was expected to be operational last year, but has faced a series of setbacks including a lawsuit filed by Indonesian shareholders in November.
The project is 95 percent owned by Sinopec Kantons Holdings, a subsidiary of Sinopec.
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