Indonesia Raids Home of Lippo Group Deputy Chairman in Bribery Probe

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Indonesia’s anti-graft agency said on Thursday it had raided 10 locations, including the home of Lippo Group Deputy Chairman James Riady, as part of a bribery investigation linked to the conglomerate’s $21 billion Meikarta real estate project.

The raids come after the Corruption Eradication Commission, known as KPK, arrested two Lippo Group (0226.HK) consultants and an employee accused of trying to pay off city officials to obtain property permits for Meikarta.

Costing $21 billion and billed as the “Shenzhen of Indonesia”, after the booming Chinese city, Meikarta is Lippo’s largest project to date and is meant to be a center for the automotive and electronic industries. It will also include five-star hotels, shopping malls, hospitals, and universities.

Febri Diansyah, a spokesman for the KPK, said in a text message its investigators had seized financial documents and computers during the raids.

The raids targeted the home of Riady, a Lippo Group office and the home and offices of top local government official Neneng Hasanah Yasin, one of nine suspects arrested by the KPK this week.

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