Felled by Fake Deposits

THERE was some special news released two weeks ago from a magnificent building, where the gods of justice are nested, in Jalan Merdeka Utara, Central Jakarta. The Supreme Court ruled that the Indonesian Bank Restructuring Agency (IBRA) had won its appeal in the PT Citra Marga Nusaphala Persada Tbk (CMNP) lawsuit involving Unibank negotiable certificates of deposit (NCDs) worth US$28 million, or Rp250 billion.

In this ruling that was handed down

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