Binsar’s $26,770 ‘Off the Books’ Cash Grab

Hopefully in the next day or two we will publish the 2012 Income Statement from TBI Bekasi. This PC doesn’t have Paint on it, or it would be up already. This document is fascinating because it gives a close-up look right into the innermost secrets of TBI Bekasi. It will provide us with several days’ worth of posts and show us exactly what has been going on inside TBi SunCity Bekasi since the blog started 11 and a half months ago. But we would like to leak the biggest secret of all today: between January 2012 and November 2012 Binsar under-reported $26,770 in revenue from his school. These classes were paid on a cash basis and were not included on the income statements sent to TBI.

This ‘true’ income statement breaks the revenue down into 3 categories; the first two are normal, the third one is off-the-books. The first two are marked ‘TBI classes’ and the third one is not. Calculated at a rate of Rp 9600 to the US dollar, Binsar did not enter $26,700 dollars into the TBI income statement but kept it off the books for himself. This amount was Rp 257.000.000 which was about 16% of all revenue from the school in 2012. This was a nice little present which Binsar gave to himself. 

We have heard from every witness who has come forward that most TBI teachers were being paid cash by Binsar, so this kind of sleight of hands is very easy. We also heard that he was massively under-reporting revenue to Head Office back in 2009. However, when the teachers took his financial records and sent them to Head Office along with their contact details, they never got back to them. They were puzzled by this but it is actually typical. The franchise owners and Head Office are both involved in massive tax evasion, so Head Office is too scared to hold the franchise owners to account. It is a den of thieves where nobody trusts anybody and everyone is out to rob everyone else.

Therefore, Binsar is still robbing TBI Head Office. This large cash grab would be enough to buy a large home in Bekasi and it explains why Binsar is holding on despite his student numbers collapsing. He is stealing as much money as he can before he gets out. Bekasi is clearly headed for collapse (we will show how badly it is doing in the coming days) but Binsar has a nice little money-spinner until it finally collapses completely.

 

 

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