The Haunting Of Bank Bali

A secret buyback bid could put financial reform at risk

Rudy Ramli is a man on the run. The former CEO of Bank Bali, who was sacked when the government nationalized his failed bank in July, sleeps in a different Jakarta hotel every night. He's hiding from Indonesian auditors, police, and the press, all of whom want to ask Ramli about a scandal involving payment of an absurdly high fee to a company connected with the ruling party. They also want to know whether he is trying to regain control of the bank by secretly buying up shares. Reached on his mobile phone, Ramli confirms he is attempting a takeover, but won't reveal the details or his location. "Why should people know where I am?" he asks.

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