Sritex's Iwan Lukminto Setiawan Arrested in Corruption Probe
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Correction: A previous version of this article incorrectly stated that Iwan Kurniawan Lukminto, President Director of PT Sri Rejeki Isman Tbk (Sritex), was arrested. In fact, it was Iwan Setiawan Lukminto, the company’s president commissioner, who was taken into custody. Investortrust regrets the error.
JAKARTA, Investortrust.id— The Attorney General’s Office has arrested Iwan Setiawan Lukminto, President Commissioner of PT Sri Rejeki Isman Tbk (Sritex), also known as SRIL, in connection with a corruption investigation involving bank credit facilities.
The arrest took place in the city of Solo on Tuesday night, May 20, 2025, according to Deputy Attorney General for Special Crimes Febrie Adriansyah.
“Yes, he was arrested last night in Solo,” Febrie confirmed on Wednesday, May 21, without elaborating on the circumstances of the arrest or the legal case under investigation.
Sritex, once Southeast Asia’s largest textile and garment manufacturer, is currently under scrutiny for alleged irregularities in securing bank loans. The Attorney General’s Office has not yet disclosed the full charges or the parties involved in the suspected scheme.
The corruption probe comes at a time of financial distress for the company. In April 2025, the Semarang Commercial Court declared Sritex bankrupt, triggering massive layoffs. The company terminated the employment of 10,665 workers, raising concerns among labor groups and prompting parliamentary oversight.
In a separate development, members of Indonesia’s House of Representatives have urged the Ministry of Manpower and the Social Security Agency to ensure that Sritex workers receive their entitled benefits following the bankruptcy ruling.