Dutch-Registered Bank Implicated in Suharto Money Laundering Scam

According to the information provided by the Dutch media group NCRV on 6 November 2000, the Dutch-registered Indover Bank has been implicated in transactions, resulting in the loss of large sums of Indonesian taxpayers money. Indonesia’s Attorney General Marzuki Darusman, in charge of the protracted criminal investigation into corrupt practices during Suharto’s presidential rule, stated that most of the economic decrees issued by president Suharto were aimed at securing financial positions of his family and his cronies. Suharto’s family had interests in all profitable branches of Indonesia’s economy: from oil and timber to car manufacturing and telecommunication. Prior to Suharto’s resignation in May of 1998 a considerable portion of their wealth (estimates range from five to twenty five billion dollars) had been channeled to foreign banks…[more]