Bribery Probe Hurts One of Southeast Asia's Biggest Projects
- Home of Lippo Group Deputy Chairman James Riady searched
- Shares, bonds of developer Lippo Group fall amid investigation
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The home of Lippo Group’s Deputy Chairman James Riady was searched by anti-graft officials, the latest development in a bribery probe that has entangled one of Indonesia’s leading business conglomerates and thrown into doubt the future of a major development project touted as the “Shenzhen of Indonesia.”
The nation’s Corruption Eradication Commission, known as KPK, conducted a search on 10 locations on Wednesday including Riady’s home and the house of a senior executive at Lippo Group who was arrested, KPK spokesman Febri Diansyah wrote in a text message. The agency secured documents related to permits, financial records and electronic devices.