A statement issued by the Attorney General's Office late on Thursday said prosecutors planned to appeal for a stronger sentence in line with an initial demand for a death penalty.
Tjokrosaputro made international headlines in 2018 when he sued Goldman Sachs for $1 billion over the ownership of shares in an Indonesian company, a case he won at a lower court but lost at the Supreme Court a year later.
The panel of judges on Thursday ruled Tjokrosaputro was guilty of arranging for Asabri to buy overpriced stocks, which later lost their value, for the personal gain of himself and some of his business partners.
His fine was one of the largest in an Indonesian graft case and the judges said the state could seize Tjokrosaputro's assets if he did not pay.
Prosecutors accused Tjokrosaputro of controlling Asabri's investment decisions between 2012 and 2019, leading to 22.78 trillion rupiah of losses for the state.