Indonesian Political, Business & Finance News

QSAR president arrested: Police on Thursday arrested Ramli Araby,

QSAR president arrested: Police on Thursday arrested Ramli Araby,
the president of collapsed agribusiness company PT Qurnia Subur
Alam Raya (QSAR), whose demise caused thousands of individual
investors some Rp 500 billion (about US$56 million) in losses.
"The police in Sukabumi police station are now questioning Ramli
Araby," El-Shinta radio station reported from the West Java town
of Sukabumi on Thursday evening. Detik.com internet news portal
reported that Ramli was arrested in Jakarta and handed over to
the police in Sukabumi, which had been QSAR's base. Earlier on
Thursday, Ramli's lawyer Ahmad Bay Lubis said that his client
would surrender to the police sometime this week to clarify all
matters related to his company. Ahmad also denied that his client
had run away, saying that he had gone into hiding to protect
himself after investors in his company panicked and came to the
company's plantation to forcibly seize its assets.

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