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The Riady Trojan Horse

Tuesday, September 30, 2003

There is some connection between one of the bidders for Lippo Bank and the former owner. The three consortia still in the tender for the bank are only offering between Rp470 and Rp500 per share.

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HONESTLY, I want to pull out as soon as possible," said Mochtar Riady, the founder and owner of Lippo Bank, about four months ago. It certainly now seems that his intention has changed, ever since Lippo Bank—in Mandarin this means eternal sustenance—has been hit by a series of public lawsuits. This veteran banker, 75 this year, has admitted that he wants to prove his own innocence. Once the general public realizes this, he will retir

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