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10 - PEOPLE/(N-S)/Mochtar Riady.md
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@ -32,7 +32,7 @@ created: 2026-09-22
updated: 2026-09-23
---
Mochtar Riady is an Indonesian of Chinese descent who built the [[Lippo Group]]; according to the House Government Reform and Oversight Committee, citing *Forbes,* he found it necessary to "Indonesianize" his name, which had been Li Mo Tie. He first met [[Jackson Stephens]] and [[Witt Stephens]] of [[Little Rock, Arkansas|Little Rock]] in 1976, when he was looking into buying [[Bert Lance]]'s share of the [[National Bank of Georgia]]; that purchase fell through, and in 1978 the two families formed Stephens Finance Ltd. in [[Hong Kong]].[^1] The Riady and Stephens families later controlled [[Worthen Bank]] in Little Rock together.[^1][^2]
Mochtar Riady is an Indonesian of Chinese descent who built the [[Lippo Group]]; according to the House Government Reform and Oversight Committee, citing *Forbes,* he found it necessary to "Indonesianize" his name, which had been Li Mo Tie. He first met [[Jackson Stephens]] and [[Witt Stephens]] of [[Little Rock, Arkansas|Little Rock]] in 1976, when he was looking into buying [[Bert Lance]]'s share of the [[National Bank of Georgia]]; that purchase fell through, and in 1978 the two families formed [[Stephens Finance Ltd.]] in [[Hong Kong]].[^1] The Riady and Stephens families later controlled [[Worthen Bank]] in Little Rock together.[^1][^2]
### Clinton
@ -40,6 +40,10 @@ The Riadys gave more than 450,000 dollars to the [[Democratic National Committee
In 1998 the Senate Committee on Governmental Affairs, in its report on the 1996 campaign-finance investigation, stated: "James and Mochtar Riady have had a long-term relationship with a Chinese intelligence agency." It also noted that they had known Clinton since the mid-1980s, when they held a controlling interest in Worthen Bank.[^4] His son [[James Riady]] pleaded guilty in January 2001 to violating federal election law.[^5]
### Hong Kong Chinese Bank
After a defalcation at Worthen Bank in 1986 and the regulatory review of its assets that followed, the Riadys, according to the House Government Reform and Oversight Committee, "traded their interest in the Worthen Bank for the Stephens' interest in the [[Hong Kong Chinese Bank]], and also traded their interests in other joint ventures." In late 1992 [[China Resources]], described by the committee as "a Chinese Government owned company which is a joint venture partner with the Lippo Group," bought 15 percent of that bank, and it later "infused the failing LippoLand with tens of millions of dollars, effectively bailing the Riady family out of a precarious financial situation." In 1993 Riady and Huang also arranged a meeting between Shen Jueren of China Resources and Vice President [[Al Gore]].[^6]
### Footnotes
[^1]: House Committee on Government Reform and Oversight. *Investigation of Political Fundraising Improprieties and Possible Violations of Law,* H. Rept. 105-829, vol. 2, 1998. https://www.govinfo.gov/content/pkg/CRPT-105hrpt829/html/CRPT-105hrpt829-vol2.htm
@ -47,3 +51,4 @@ In 1998 the Senate Committee on Governmental Affairs, in its report on the 1996
[^3]: Office of the Independent Counsel. *Final Report of the Independent Counsel In Re: Madison Guaranty Savings & Loan Association,* vol. 3, part C, on Webster Hubbell. https://www.govinfo.gov/content/pkg/GPO-ICREPORT-MADISON/pdf/GPO-ICREPORT-MADISON-3-2.pdf
[^4]: Senate Committee on Governmental Affairs. *Investigation of Illegal or Improper Activities in Connection with 1996 Federal Election Campaigns,* S. Rept. 105-167, 1998, "The China Connection." https://irp.fas.org/congress/1998_rpt/sgo-sir/2-18.htm
[^5]: U.S. Department of Justice. "James Riady Pleads Guilty, Will Pay Largest Fine in Campaign Finance History for Violating Federal Election Law." Press release 01-17, January 11, 2001.
[^6]: House Committee on Government Reform and Oversight. *Investigation of Political Fundraising Improprieties and Possible Violations of Law,* H. Rept. 105-829, vol. 2, 1998, footnotes 14 and 115-119. https://www.govinfo.gov/content/pkg/CRPT-105hrpt829/html/CRPT-105hrpt829-vol2.htm