The Lost Timor Treasure

September 9, 2008

THE Rp1.2 trillion account of PT Timor Putra Nasional was recently transferred to a government account two weeks ago. This move to secure state funds—albeit belatedly—is a step in the right direction. There are strong indications that the company owned by Hutomo Mandala Putra has carried out questionable methods to regain control over assets it had handed over to the Indonesian Bank Restructuring Agency (IBRA).

State investigators suspect a

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