Asset Recovery Watch

ARW-76
Hendra Rahardja (Hong Kong SAR, China)
Indonesia
President / CEO of PT Bank Harapan Sentosa (?-1997)
Hong Kong SAR, China
Undertaking Recovery Effort, Location of Recovery Effort, Asset Location / Alleged Asset Location
Unknown
Art.17, Art.23
Yes
Actions Initiated by Foreign Jurisdiction
MLAT
Unspecified
[Unknown Status of Recovery]
Unknown
Unknown
$3,000,000 (secondary source)
Unknown
Unknown

According to the March 1, 2005 Judgment by Australia's New South Wales Supreme Court, "It was contended that the crimes of the deceased Rahardja produced a total loss to the Central Bank of Indonesia of A$390 million of which some A$38.5 million came to Australia." (Source: CDPP - In the Matter of S.19 of the Proceeds of Crime Act 2002; In the Matter of Funds in a Bank Account; In the Matter of Sunshine Worldwide Holdings Limited and South East Group Limited [2005] NSWSC 117.) According to the International Centre for Asset Recovery, in February 2009, an official of the "Hong Kong Ministry of Justice would confirm only that USD 3 million was frozen in Hong Kong, despite press reports of larger amounts concealed in that jurisdiction." (Source: http://www.assetrecovery.org/kc/node/88a69af9-f1fe-11dd-acdc-479fc5e02d5a.) At the time of Hendra Rahardja's case in Indonesia, Hong Kong and Indonesia did not have a bilateral Mutual Legal Assistance Treaty (they signed one in 2008). The lack of an MLAT betwen the two jurisdictions cited as one of the reasons Australia was acting as intermediary between the two jurisdictions. (Source: Working Group Report, Australia/ Indonesia Working Group on Legal Cooperation (Denpasar, 26-27 June 2006), at 5: "In particular, the group discussed recent developments in the Hendra Rahardja case, including Australia’s recent mutual assistance request to Hong Kong requesting a portion of the assets identified and restrained in Hong Kong be returned to Indonesia.)

According to the March 1, 2005 Judgment by Australia's New South Wales Supreme Court, "The deceased had been convicted in Indonesia on 18 March 2002 in absentia of charges relating to this matter and was sentenced to life imprisonment and fined 30 million rupiah." (Source: CDPP - In the Matter of S.19 of the Proceeds of Crime Act 2002; In the Matter of Funds in a Bank Account; In the Matter of Sunshine Worldwide Holdings Limited and South East Group Limited [2005] NSWSC 117.)

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