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20 - ORGANIZATIONS/PRIVATE/LippoBank.md
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@ -43,7 +43,7 @@ The records of the [[Federal Deposit Insurance Corporation]] for the bank (certi
- March 26, 1998: main office moved back to San Francisco.
- May 31, 2000: merged, without assistance, into the First Bank of California, which survived.
The House Government Reform and Oversight Committee reported that when the Riadys left [[Worthen Bank]] in [[Little Rock, Arkansas|Little Rock]] about 1987 they "focused their attention on a bank they previously had purchased in San Francisco, California. Soon thereafter they established the Bank of Trade in Los Angeles, which later became LippoBank." Huang's résumé was among the documents LippoBank produced to the committee. The committee found that the Lippo Group's American operations were generally unprofitable, and that while many in the group's hierarchy wanted unprofitable operations closed, others argued that "LippoBank California was important 'strategically,' in order to have a presence in the United States," and prevailed.[^3]
The [[House Committee on Oversight and Government Reform|House Government Reform and Oversight Committee]] reported that when the Riadys left [[Worthen Bank]] in [[Little Rock, Arkansas|Little Rock]] about 1987 they "focused their attention on a bank they previously had purchased in San Francisco, California. Soon thereafter they established the Bank of Trade in Los Angeles, which later became LippoBank." Huang's résumé was among the documents LippoBank produced to the committee. The committee found that the Lippo Group's American operations were generally unprofitable, and that while many in the group's hierarchy wanted unprofitable operations closed, others argued that "LippoBank California was important 'strategically,' in order to have a presence in the United States," and prevailed.[^3]
### Plea