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20 - ORGANIZATIONS/PRIVATE/Lippo Group.md
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@ -26,7 +26,7 @@ The Lippo Group is the banking, insurance, and property conglomerate of [[Mochta
### Arkansas
The two families formed [[Stephens Finance Ltd.]] in [[Hong Kong]] in 1978 and both bought into [[Worthen Bank]] in 1983. About 1987 the Riadys exchanged their Worthen shares for the Stephens interest in the [[Hong Kong Chinese Bank]] and turned to [[California]], where they had bought the [[Bank of Trade (Los Angeles)|Bank of Trade]] and renamed it [[LippoBank]]. [[John Huang]] was the group's chief representative in the [[United States]]. In April 1993 [[C. Joseph Giroir]], former managing partner of the [[Rose Law Firm]], incorporated the [[Arkansas International Development Corporation]] with Lippo capital to develop joint ventures, and a second company of the same name followed in 1995. According to the House Government Reform and Oversight Committee, the Riadys paid Giroir between 350,000 and 600,000 dollars a year. [[Mark Middleton]], a former aide to President [[Bill Clinton]], also went to work for the group. Giroir helped draw up the list of those invited to the [[Asia-Pacific Economic Cooperation]] meeting in [[Jakarta]] in 1994, among them [[Webster Hubbell]], to whom the Lippo company [[Hong Kong China Limited]] had paid 100,000 dollars that June. The House committee also found that the head of the group paid the college tuition of Hubbell's daughter.[^1]
The two families formed [[Stephens Finance Ltd.]] in [[Hong Kong]] in 1978 and both bought into [[Worthen Bank]] in 1983. About 1987 the Riadys exchanged their Worthen shares for the Stephens interest in the [[Hong Kong Chinese Bank]] and turned to [[California]], where they had bought the [[Bank of Trade (Los Angeles)|Bank of Trade]] and renamed it [[LippoBank]]. [[John Huang]] was the group's chief representative in the [[United States]]. In April 1993 [[C. Joseph Giroir]], former managing partner of the [[Rose Law Firm]], incorporated the [[Arkansas International Development Corporation]] with Lippo capital to develop joint ventures, and a second company of the same name followed in 1995. According to the [[House Committee on Oversight and Government Reform|House Government Reform and Oversight Committee]], the Riadys paid Giroir between 350,000 and 600,000 dollars a year. [[Mark Middleton]], a former aide to President [[Bill Clinton]], also went to work for the group. Giroir helped draw up the list of those invited to the [[Asia-Pacific Economic Cooperation]] meeting in [[Jakarta]] in 1994, among them [[Webster Hubbell]], to whom the Lippo company [[Hong Kong China Limited]] had paid 100,000 dollars that June. The House committee also found that the head of the group paid the college tuition of Hubbell's daughter.[^1]
### BCCI Hong Kong