The CPIB had failed to report the seizure of the funds by the statutory deadline, doing so approximately 10 months late. This delay meant the bureau lacked lawful authority to control the funds during that interim period. However, the judge determined that these lapses did not justify returning the money, which is suspected to be the proceeds of criminal offenses.
The funds were seized on May 17, 2023, from four bank accounts belonging to Bill Darmadi, the son of Surya Darmadi, an Indonesian palm oil magnate convicted of corruption and money laundering. Surya Darmadi was sentenced to 15 years in jail and fined a substantial amount in Indonesia for operating palm oil businesses without permits and laundering illicit profits.
CPIB investigations revealed that substantial funds had flowed from Indonesian companies linked to Surya Darmadi into Singapore-incorporated companies owned by his son, Bill Darmadi. These funds were subsequently transferred to Bill Darmadi's personal bank accounts in Singapore.
While the judge acknowledged the seriousness of the CPIB's procedural errors, including failing to notify Bill Darmadi of an extension application and provide him with the relevant report, she concluded that these issues did not necessitate the return of the seized assets. The court found a reasonable basis to believe the funds were proceeds of an offense, although a portion could not be immediately traced to Surya Darmadi's criminal conduct but will remain seized pending further High Court proceedings.