The Indonesian Connection
The Saga of Sukamto Sia
Sightings from The Catbird Seat
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INDONESIAN LAW UPDATE
2007
[January 2007] to [June 2007]
35 of 75 Indonesian General Attorneys prepared for the hunt
of Corruptors Asset in Singapore and Australia.
The initial team of 35 prominent Public Attorneys at the General Attorneys office will settle 3 major corruption case of Bank Liquidity Support from the Central Bank (BLBI) in 1997, where each case has caused state loss at least USD 1.2 billion.
The corruptors are a number fugitive of Indonesian bankers who now stay and live in Singapore and Australia, where they invest in premium apartments and hotels, and shopping malls in Singapore, Melbourne and Sydney.
The Indonesian General Attorney, Hendarman Supandji, expects other 5 BLBI corruptors will be settled by other 75 prominent public attorneys recruited from all over Indonesia. The team member will soon be announced.
Those 8 Indonesian-Chinese corruptors are Atang Latief, Agus Anwar, Ulung Bursa, Lidia Muchtar, Omar Putirai, James Sujono Januardy, Adisaputra Januardy....
http://www.dahanarekan.com/DR_LA0607.htm
January 31, 2006
Indonesia wins one in war on corruption
By Bill Guerin
JAKARTA - Indonesia has scored a major victory in the war on corruption after the return to the country of a crooked banker who fled before being sentenced in absentia to eight years in jail.
The US turned over fugitive David Nusa Wijaya to Indonesia on January 17 after he was located in Los Angeles four days earlier. The two countries do not have an extradition treaty. However, national police chief General Sutanto, who was hand-picked last year by the president, said Wijaya had been given two choices by the police.
"The first was for him to go through the legal process in the US and then be deported, while the second was to voluntarily undergo the legal process in Indonesia," he said.
Wijaya, a 44-year-old ethnic Chinese wanted for embezzling about US$139 million, chose the latter, Sutanto said. This could suggest Wijaya believes that given time, he will find a way to escape justice yet again. However, he may find it much more difficult this time. President Susilo Bambang Yudhoyono is talking tough on seeing such criminals brought to justice.
"I don't want any extortion, backroom deals or anything by the law enforcement people here that would create a more difficult situation for the judiciary," Yudhoyono warned, when commenting on the joint operation by Indonesian police and the US Federal Bureau of Investigation that resulted in Wijaya's capture in San Francisco.
Significantly, US assistance came less than a week after Washington praised Jakarta's arrest of suspects in the 2002 murders of two American teachers in the province of Papua. The case was the main hurdle to restoring military ties between the two countries.
Once again, as with the Papua arrests, public statements confirm the strong relationship developing between Jakarta and Washington. "I am grateful to the friendly country that helped him [Wijaya] be brought to justice," Yudhoyono said....
Wijaya had been on the run since 2004, a few weeks before Indonesia's Supreme Court increased an earlier sentence to eight years for embezzlement in a scam linked to one of the biggest and nastiest wholesale fraud cases ever, the misuse of Bank Indonesia Liquidity Assistance (BLBI) in 1997-98.
In a related development, the owner of liquidated Bank Bira, Atang Latief (ex-father in law of Sukamto Sia) alias Lau Tjin Ho, returned to Indonesia on Friday to face trial over alleged embezzlement of Rp325 billion (US$34.7 million) in BLBI....
He arrived in Jakarta from Singapore and was immediately rushed to a hospital for an undisclosed illness, according to Antara news agency. Sutanto said a ban on Latief going abroad was issued in 2000 but later revoked by the immigration office....
www.atimes.com/atimes/Southeast_Asia/HA31Ae01.html
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For more, GO TO > > > Black Berets...Red China
August 6, 2004
Sukamto Sia’s Lawyers To Pay
$6 Million In Settlement
By Tim Ruel, Honolulu Star-Bulletin
A Honolulu attorney and a high-powered law firm that represented imprisoned businessman Sukamto Sia during his bankruptcy proceedings must pay $6.25 million in a settlement over allegations they helped the former Indonesian investor hide assets from creditors.
Attorney Renton Nip and the former Washington, D.C., law firm Verner Liipfert Bernhard McPherson & Hand must pay the money to Sia’s bankruptcy estate, a Singapore bank, casinos that are owed money by Sia and the Federal Deposit Insurance Corp.
Sia pleaded guilty to federal bankruptcy fraud in 2001 and is in prison in Big Springs, Texas. He was to be released next month but his sentence has been placed in an indefinite status because Sia was recently found in contempt for not complying with a U.S. Bankruptcy Court order.
Sia’s bankruptcy trustee Guido Giacometti sued Verner Liipfert and Nip in 2002, saying they “entered into an overarching conspiracy to conceal and divert assets from (Sia’s) bankruptcy estate.” Later, the Singapore bank and the casinos filed separate lawsuits over similar allegations.
“I know in my heart that the suits were not fair and not right. The settlement, however excessive, brings the Chinese water torture finally to an end,” Nip said yesterday. He declined to elaborate.”
Warren Price III, attorney for the former Verner Liipfert law firm, said the defendants settled based on the decision of their insurance carrier, and that the settlement will be covered by insurance. Verner Liipfert and Nip dispute all of the claims against them.
“There were a number of parties involved and the defense costs were just going to be horrendous,” Price said.
Nip, who shares a law office with former Gov. John Waihee, was once affiliated with Verner Liipfert, which has since merged into the national law firm Piper Rudnick.
Under the settlement, approved last week by U.S. Bankruptcy Judge Lloyd King, Nip and Verner Liipfert do not admit liability. The casino companies, including London Clubs International plc, Aspinall’s Club Ltd. and Rio Casino, will get $2.5 million from the settlement, which is not as much as the $12 million in initial claims they filed against Sia’s bankruptcy estate.
The suits against Sia’s former lawyers will be dismissed and the casinos are waiving their right to seek more money from the bankruptcy estate.
Sia, who once was involved in selling land to the state for the $350 million Hawaii Convention Center, ran into financial problems with creditors in 1998. He filed bankruptcy in Honolulu, claiming he had nearly $300 million in debts and only $9.3 million in assets. Giacometti has since estimated the face value of Sia’s assets at $53 million.
Giacometti has raised $7.4 million for creditors, and the estate will receive another $1.25 million for its role as receiver for the now-defunct Bank of Honolulu, where Sia was once chairman and Nip was a director.
Another $1.25 million from the settlement will go to an Asian unit of Commerzbank AG, a major bank based in Germany.
Meanwhile, Giacometti said he is in talks to resolve the contempt order that is keeping Sia in prison. A local attorney for Sia declined comment yesterday....
See also: Renton Nip
For more on Guido Giacometti, GO TO > > > RICO in Paradise
For more on Warren Price III, GO TO > > > The Firing of Evan Dobelle
For more on Sukamto Sia’s former insurance broker, Marsh & McLennan, GO TO > > > The Marsh Birds
Of some interest: http://www.stateandfed.com/s_about/clients.asp
November 28, 2003
Developer Christopher Hemmeter
dies at age 64
Pacific Business News (Honolulu)
Christopher B. Hemmeter, a prolific developer who built some of Hawaii's most notable hotels and resorts, died Thursday at his Los Angeles home. He was 64.
Eight months ago he was diagnosed with severe liver cancer. He also had been coping with Parkinson's disease. This was his second bout with cancer.
Sharing memories of his father, son Mark Hemmeter told PBN from Los Angeles, "Thanksgiving was his favorite holiday because it was all about just family. Our whole family was with him yesterday, and it was very peaceful."
Hemmeter came to Hawaii in the 1960s and became a noted developer while still in his 20s, along with partners Henry Shigekane and Diane Plotts. Many credit Hemmeter with creating the concept of a destination resort. He moved to the mainland in 1991 and became a casino developer in Colorado and New Orleans. His most recent venture was a successful restaurant near Universal Studios.
Former President Jimmy Carter, Hemmeter's close friend, told PBN for an October profile: "Chris has the uncanny ability to dream ... then put his concepts into practice for the enjoyment of countless others."
"We are extremely saddened by his passing, but we also rejoice as we reflect upon his life," the family said in a statement Friday. "He stood for all that was good in us and gave unselfishly of his time and energy. He will be greatly missed. His affection and caring for others, his charisma, and his professional accomplishments lead many people to pronounce that he was truly 'larger than life.'"
For his accomplishments, Hemmeter has received numerous awards including being named twice as the Businessman of the Year, Salesperson of the Year, Marketing Man of the Year and Islander of the Year in Hawaii. He was inducted into the American Academy of Achievement in 1979. In 1991 Hemmeter was selected the Independent Hotelier of the World.
Hemmeter's activities went beyond the hotel industry. He was the founder and chairman of the Bank of Honolulu, a director of the First Hawaiian Bank, a director of the National Symphony Orchestra in Washington D.C., a trustee of Punahou School in Honolulu, a member of the Young Presidents Organization, a director of the Carter Center, a director of Morrison Knudsen, a director of Resort Income Investors, and a Trustee Fellow of Cornell University where he received the prestigious Entrepreneur of the Year award granted to Cornell University graduates.
"Hawaii needs to appreciate his contributions to the visitor industry and the state," close Hemmeter friend and retired Bank of Hawaii CEO Larry Johnson told PBN previously. "His legacy will live here forever."
He is survived by his wife of 25 years, Patricia; children Mark and daughter-in-law Lisa, Chris and fiancée Debi, Katie and husband Cully; stepchildren Kelley, Shane, Brendan and wife Brook, and Holli; sister Sally Younge and husband Eric; brother Dr. Mead Hemmeter and wife Mari-Jo; sister-in-law Karen Cook; and six grandchildren, Taylor, Maddy, Annabelle, Austin, Ryan and Quinn.
Private services will be held Sunday in Los Angeles. In lieu of flowers, donations can be sent to the new Christopher B. and Patricia K. Hemmeter Kahaola Hospice Foundation at 1164 Bishop St., Suite 800, Honolulu, HI 96813.
http://pacific.bizjournals.com/pacific/stories/2003/11/24/daily58.html
< < < FLASHBACK < < <
China-US Campaign Scandal
and Illicit Capital Flow
The Link Between Mochtar Riady and the Clinton Administration
By Greg Wongham, www.greaterthings.com
The problems with the FDIC / Donna Tanoue and the two big Hawaii banks will undoubtedly effect people throughout the country. I believe that the Hawaii links to Mochtar Riady are attempting to gain access to the American capital market through Riady’s brother-in-law, Mumin Ala Gundawun.
Riady was too hot (BCCI, Chinagate), so they wisely chose to approach their plan via the Hawaii connection.
Secretary of the Treasury, Robert Rubin played a major role in setting up this new bank scandal by lobbying for repeal of the Bank Holding Company Act.
The purpose for this action is to allow Bank Holding companies (Hawaii’s Pacific Century Financial Corp and BancWest) to expand their financial services, thus allowing them to become full service securities brokerages. This seems like an ideal front to legitimize their deals to the American capital markets....
Overview.
I am the producer/host of a public access TV show called “Corruption in Hawaii.” I have spent 6 years exposing different aspects of the Hawaii machine....
During the month of August ... a segment of my show (was) titled, “What does Hawaii’s Bank Losses Mean to You?” The show featured a guest who described the losses he experienced in his family trust which was handled by Pacific Century Financial Corp (formerly Bank of Hawaii). He lost $1 million, plus $300 thousand in legal fees.
Numerous people called and said that they too, had experienced significant losses. Last week the public access station pulled the segment of the show. The next day the CEO of Pacific Century resigned. Two of the board of directors for the public access station are with the two big banks....
The important points in this story revolve around the fact that Hawaii’s Democratic machine played a major role in the Chinagate scenario that grew out of the investigation into illegal foreign campaign fundraising.
The machine headed by Hawaii’s political godfather, Senator Dan Inouye was being investigated by the FBI during former (R) President George Bush’s tenure. The basis of the investigation stemmed from allegations of extortion and bribery aimed at the administration of former (D) Gov. John Waihee. The investigation was killed by Clinton’s friend Webster Hubbell, the number three man in the Justice Dept under Janet Reno. (AP story by J. Solomon: FBI failed to act on fund-raising of ex-Hawaii couple.)....
Eventually the investigation focused on Indonesian banking tycoon, Mochtar Riady and his Lippo Group. The basis of the story I am trying to relay to you is that Hawaii’s Democratic Machine used the billions of dollars of the Kamehameha Schools / Bishop Estate assets to undertake the task of underwriting and orchestrating the initial public offering of the Xiamen International Bank on the Hang Seng and the NY Stock Exchange. This would have the effect of legitimizing a Communist Chinese banking entity on the biggest stock exchange in the U.S. and open the doors allowing American money to capitalize a communist regime....
It begins in 1963 to 1970, when a group of Hawaii legislators killed a Bank Examiner Bill. They were already employed as legal counsel or otherwise associated with the top banks. This, I felt, was a good point to begin telling you the story because it begins to reflect a pattern of using politically appointed people to legally white-wash or cover-up the wrong-doing of the big banking and financial interests here in Hawaii.
Today the same thing is happening, and this time they were successful in persuading President Clinton to push Hawaii’s Donna Tanoue to become the head of the FDIC. The significance in this is that the only time anyone here in Hawaii ever heard of Ms Tanoue was when she was tapped to cover-up the scandals that arose when 9 out of 20 of Hawaii’s Industrial banks failed. Many of them were linked to former (D) Gov. George Ariyoshi and the high ranking Democratic ‘old boys’. The results were that no one was convicted or sentenced to do time and the people of Hawaii ended up footing the bills....
The point is ... that once again Hawaii’s top banks are in a financial tail-spin and Donna Tanoue has been conveniently positioned to allow the banks to expand throughout Asia, the Pacific-Rim and the western part of the U.S....
July 08, 2002
Kroll to buy training firm
by Wendy Blake, New York Business
Manhattan-based security services company Kroll Inc. has bought a training firm in an effort to strengthen its position in the counter-terrorism market.
Kroll, which has seen demand for its services soar since the events of Sept. 11, is buying Crucible of Falmouth, Va., which has been called on by the government for such assignments as providing security training for U.S. police officers in Kosovo and Indonesia and managing protective details for U.S. officials in Haiti.
The company’s 18-person staff will join Kroll, which provides risk consulting to government agencies and businesses.
Terms of the deal weren’t disclosed.
For more, GO TO > > > The Eagle Hooded: The 9-11 Coverup - Part II - Part III
March 8, 2002
Sia loses bail hearing,
ordered to detention
The bankrupt businessman faces sentencing March 21
By Tim Ruel, Star-Bulletin
U.S. District Judge David Ezra today placed bankrupt businessman Sukamto Sia into immediate custody, saying that by lying to Los Angeles police Sia posed an immediate flight risk.
Sia, who is scheduled to be sentenced in two weeks on federal felony charges, was expected to go immediately to a federal detention center, said Mark Recktenwald, an assistant U.S. attorney assigned to the case.
Prosecutors asked the court to revoke Sia's bail after he was arrested Feb. 12 by police in Bel Air, Calif., on battery charges. Police responded to Sia's Bel Air estate after receiving a 911 call that was almost immediately disconnected. At the estate, Sia's fiancee Kelly Randall told officers that Sia had slapped her during an argument, police said.
In his ruling, Ezra concluded that Sia lied when he told police that he had not been arrested before, when in fact Sia was arrested two years ago by the FBI.
In October last year, Sia pleaded guilty to bankruptcy fraud and wire fraud in exchange for the promise of a reduced sentence. However, for the past year, under Ezra's supervision, Sia has been living in California with Randall while awaiting sentencing.
"Mr. Sia plain and simple lied," Ezra said.
Sia also lied to officers when he claimed that an electronic monitoring bracelet was a watch, Ezra ruled.
Federal prosecutors have argued throughout the case that Indonesian-born Sia posed a flight risk and wanted him held awaiting sentencing. Ezra noted today that he allowed Sia to remain free because he believes in allowing people who are presumed innocent to remain under the least stringent conditions possible. However, Ezra said the situation changed when Sia lied to police.
What's more, Ezra said, in his experience, people who are a flight risk will flee immediately upon their arrest or just before sentencing. Sia is set to be sentenced by Ezra on March 21.
Ezra noted he was not interested in the details of the dispute between Randall and Sia, saying it was a personal matter. However, he did say that he had a problem with Randall's testimony for the defense.
"I have serious concerns about her credibility as a witness in this matter," Ezra said.
Randall either lied to the police that night or lied to the court because she had, in fact, told police that Sia had slapped her, even though she later recanted the statement, Ezra said.
After Ezra made his ruling, Randall kissed Sia on the ear. Sia shook hands, waved and said goodbye to his friends, who had packed the courtroom. Several in attendance helped Sia post his $1.5 million bail.
Honolulu attorney Jon Miho said after the ruling that it was "overkill," since Sia faces sentencing shortly.
Sia posed no risk of flight and has always attended his court appearances, Miho said.
As part of his federal plea agreement, Sia faces between 20 and 40 months in federal prison. Sia's attorneys have recently filed a motion asking that the court lower the sentence because of his good behavior.
In closing arguments, Recktenwald said the events of Feb. 12 amount to "lousy" conditions for Sia's release. Sia, Randall and four of their friends had been out for dinner at a nearby restaurant celebrating the fact that Sia's friend David Chang had loaned Sia $2 million so he could pay restitution ordered by the court.
"Electronic monitoring in this case failed completely," Recktenwald said.
In response, Sia's attorney David Chesnoff pointed out that Sia has never attempted to escape his sentence. "The man is here," he said.
Los Angeles police should have known that the bracelet on Sia's arm looked nothing like a watch, Chesnoff said.
Chesnoff wanted Ezra to allow Sia to remain in Hawaii until he could surrender for sentencing.
http://starbulletin.com/2002/03/08/business/index2.html
January 25, 2002
Bank of Honolulu items
on auction block
Honolulu Star-Bulletin
Office equipment from the failed Bank of Honolulu is scheduled to be auctioned tomorrow at the site of the bank's former main branch in the Davies Pacific Center on Bishop Street.
The bank, seized by the Federal Deposit Insurance Corp., was sold in October 2000 to San Francisco's Bank of the Orient, which will be the beneficiary of the auction proceeds. Bank of the Orient moved the branch in August to the ground floor of the Dillingham Transportation Building....
The auction begins at 10 a.m., with a preview starting at 8 a.m. More information about the auction is available at www.HawaiianAuctions.com.
Bank of Honolulu's former owner, Indonesian developer Sukamto Sia, is scheduled to be sentenced to up to 40 months in federal prison on March 11. Sia, facing multiple federal charges, cut a deal with prosecutors last year and pleaded guilty to bankruptcy fraud and wire fraud.
Sia's Chapter 7 bankruptcy case is still pending, and Guido Giacometti, the court-appointed bankruptcy trustee, wants to question Sia under oath after the former banker is sentenced. Giacometti has not had a chance to quiz Sia directly since the FBI arrested Sia during a bankruptcy meeting in August 2000.
"After he was arrested his position was that he would not speak to us," Giacometti said. "He basically took the Fifth Amendment."
In his November 1998 bankruptcy petition, Sia claimed $9.3 million in assets and $296.5 million in debts. Giacometti accused Sia of hiding his wealth and subsequently so did the federal government. Sia has since admitted to hiding state tax refunds totaling $757,249.
Giacometti has asked the U.S Bankruptcy Court to order Sia to appear for questioning, following the refusal of Sia's attorney Renton Nip to accept a subpoena on behalf of Sia. Nip said he wasn't authorized to accept the subpoena, according to court documents.
http://starbulletin.com/2002/01/25/business/index3.html
Executive Office for United States Trustees
Washington, D.C.
Office of Research and Planning
PRESS RELEASE
For Immediate Release
October 30, 2001
U.S. TRUSTEE PROGRAM LAUNCHES
BANKRUPTCY CIVIL ENFORCEMENT INITIATIVE
WASHINGTON, D.C.--The United States Trustee Program has launched an initiative to more aggressively use existing civil enforcement methods to curb abuse of the bankruptcy system, Martha Davis, Acting Director of the Executive Office for United States Trustees, announced today.
"Effective case administration is vital to ensure the American public that the bankruptcy system provides relief for honest but unfortunate debtors overcome by serious financial difficulties," Davis stated. "The Civil Enforcement Initiative emanates from the U.S. Trustee Program's long-standing commitment to enforce the Nation's bankruptcy laws and explore other meaningful strategies to bolster public confidence in the integrity and effectiveness of the bankruptcy system."
"The priorities of the initiative will require a concerted effort nationwide to use existing tools in a way that best accomplishes tangible results and improvements for case administration," Davis continued. "Many of our offices use such strategies today and we hope to build upon their experience. By focusing our resources on these priorities, we also seek to address some of the concerns that have been at the forefront of debate in recent years both before Congress and in other public venues. In the end, this is very much a community effort that will require communication and cooperation with private bankruptcy trustees and with the bankruptcy bench and bar."
These are the priorities of the Civil Enforcement Initiative:
Ensuring that Chapter 7 is not abused and that Chapter 7 debtors are held accountable.
Chapter 7 debtors who do not comply with the law will have their cases converted or dismissed, or their bankruptcy discharges denied or revoked. Enforcement measures include motions to dismiss Chapter 7 cases under 11 U.S.C. §§ 707(a) and 707(b), and complaints to bar or defer discharge under 11 U.S.C. § 727.
Protecting consumer debtors, creditors, and others who are victimized by those who mislead or misinform debtors, make false representations in connection with a bankruptcy case, or otherwise abuse the bankruptcy process.
Attorneys and bankruptcy petition preparers (non-attorneys who prepare bankruptcy documents for a fee) must engage in full disclosure, be free of conflicts of interest, and engage in ethical practices. Enforcement measures include motions for sanctions, contempt of court, and disgorgement under 11 U.S.C. § 329 for misconduct by attorneys, and complaints and motions under 11 U.S.C. § 110 for misconduct by bankruptcy petition preparers....
Fighting fraud and abuse by making criminal referrals and assisting United States Attorneys in criminal prosecutions.
The U.S. Trustee Program is a component of the Justice Department that oversees the administration of bankruptcy cases and intervenes in court to enforce the bankruptcy laws. There are 21 regions in the Program, each headed by a U.S. Trustee appointed by the Attorney General.
The Civil Enforcement Initiative took effect Oct. 1, 2001, with the start of the federal government's 2002 fiscal year. Previous U.S. Trustee Program initiatives have focused on issues such as enhancing the supervision of private trustees who administer Chapter 7 bankruptcy cases, increasing the efficiency and speed of Chapter 7 case administration....
Contact:
Jane Limprecht, Public Information Officer
Executive Office for U.S. Trustees
(202) 305-7411
www.usdoj.gov/ust/eo/public_affairs/press/docs/pr20011030.htm
Sia to be locked up for holiday
A judge postpones a bail hearing on the former
Hawaii banker until Tuesday
By Peter Wagner, Star-Bulletin
"He's ohana," said a visibly shaken Danny Keleikini, after federal marshalls led businessman Sukamto Sia away in shackles to spend the long Labor Day weekend in a holding cell. "He's family."
The entertainer was among several witnesses who came to support Sia at a detention hearing yesterday before Federal Magistrate Barry Kurren.
The 41-year-old Sia, a citizen of Singapore who lives in Macao, was indicted by a federal grand jury on Wednesday on three counts of bankruptcy fraud.
Federal authorities want him held without bail until the Oct. 31 trial.
The indictment alleges Sia knowingly hid more than $7 million in December of 1997 before filing for bankruptcy in Honolulu in November of 1998. He is also charged with spending nearly $800,000 in state tax returns that should have been paid into his bankruptcy estate.
Dressed in green prison garb and looking a little disheveled, Sia stood before Kurren and asked for his release pending trial.
"Of course, these days I can't assume anything but with so many friends here to support me I won't disappoint them," said. "I won't be a fugitive all my life."
But, acting on the request of federal prosecutors, Kurren postponed the hearing until Tuesday and ordered Sia held without bail pending trial next month.
The question before the court remains whether to hold Sia without bail pending is
Assistant U.S. Attorney Omer Poirier asked for more time to locate a sister-in-law of Sia who allegedly saw a box containing "various identity documents."
Poirier also said his office is trying to locate an employee of a Nevada casino said to have been told by Sia that any debts would have to be collected while he was in the United States because he did not plan to come back.
Poirier also wanted time to research extradition procedures in Macao, which might be complicated since the colony was recently taken back as part of mainland China.
Joining Keleikini in support of Sia at yesterday's hearing were Honolulu attorney Jon Miho, stockbroker Al Souza and Eric Yanagihara, lead trustee of a charitable foundation supported by Sia to benefit Hawaii's children.
"They're just trying to throw him in in jail for four days to humiliate him," said Miho, who walked off in disgust.
Sia's attorney, John Edmunds, offered to post a $150,000 cashier's check as bail, money he said was put up by friends of Sia.
But Kurren said too many questions remain regarding Sia's likelihood to take flight.
Sia, a former director and major shareholder in Bank of Honolulu, filed for bankruptcy on Nov. 8, 1998 listing $296.4 million in debts and $9.3 million in assets.
The bankruptcy was filed a month after his arrest in Las Vegas on charges of bouncing more than $13 million in checks at several casinos.
Sia has blamed his financial woes on a downturn in the Asian economy.
http://starbulletin.com/2000/09/01/business/story2.html
June 15, 1999
Indonesian power and corruption
(Suharto got Clinton kickbacks)
By Charles Smith, worldnetdaily
In 1994, U.S. Commerce officials knew there was a crime in progress -- a crime that involved millions of U.S. taxpayer dollars being used to pay off corrupt foreign politicians. Did the Commerce Department attempt to stop this crime? No. As a matter of fact, the federal agency appears to have done its best to help the criminals succeed.
On Nov. 16, 1994, Bill Clinton and the late Ron Brown traveled to Jakarta, Indonesia, for the Asia Pacific Economic Conference, at which Clinton signed deals to supply Indonesia with electric power using U.S. taxpayer loans. The deals were worth billions to U.S. corporations such as Cal Energy, Mission Energy and General Electric.
"As markets expand, as information flows, the roots of an open society will grow and strengthen and contribute to stability," stated Clinton during the 1994 signing.
In September 1994, long before Clinton signed the power deal, the Commerce Department documented that Indonesian dictator Suharto had cut himself in for a bribe. According to a 1994 Commerce document, 0.75 percent ownership of a $2 billion U.S.-backed power project was given -- at no cost -- to dictator Suharto's second daughter, Siti Hediati Prabowo.
Prabowo's 0.75 percent ownership is equal to a free gift of $15 million from the U.S. taxpayers. The $15 million is part of a $50 million bribe split between Prabowo and other Suharto relatives. In return, the Indonesian dictator selected companies owned by major Clinton donors to build the Paiton power plant in east Java.
In 1998, the Commerce Department returned a "blacked-out" version of a document that it had previously sent in full. The mistakenly released document from the Commerce Department, titled "Indonesia Advocacy Projects," contained information on the privately held east Java Paiton Power Plant.
The Paiton power project consisted of two 600-million watt, coal-fired plants to provide electricity for east Java. The partners in the U.S.-led consortium included Mission Energy, Mitsui & Co. Ltd. of Japan, General Electric Capital Corporation of the U.S., and P.T. Batu Hitam Perkasa, an Indonesian firm formed in 1989 to participate in the development of the country's private power industry.
The leader of the U.S. project in the Paiton power plant, Mission Energy, is also a partner of Indonesia's Lippo Group, a consortium partly owned by Indonesian billionaire Mochtar Riady and the Chinese Army's CITIC (China International Trust and Investment Corporation) bank.
According to Federal Election Commission records, Mission Energy CEO, John Bryson, donated money to Clinton's campaigns and donated money to Clinton's legal defense fund.