Condo tycoon held at AG office

Condo tycoon held at AG office

JAKARTA (JP): The Attorney General's Office is detaining a
condominium tycoon on suspicion of embezzling Rp 65 billion
(US$7.6 million) in state money.

Barman, a spokesman for the Attorney General's Office, said
Monday that the suspect, Seno Margono, alias Tjiang Lek Seng, 38,
was handed over by the Jakarta Internal Security Agency last
Thursday.

He has being charged with embezzling Rp 65 billion. Seno
allegedly counterfeited state land titles, which he then used as
collateral to obtain a bank loan, Barman said.

Seno borrowed the money from Bank PDFCI, a private bank which
was brought under government management on Saturday as part of
measures to reform the country's weak banking sector.

"The money was then used to build a condominium in Kemayoran,
Central Jakarta," Barman added.

Spokesman for the Jakarta Internal Security Agency Lt. Col.
D.J. Nachrowi said the suspect had been transferred to the
Attorney General's Office because corruption cases came under its
mandate.

Nachrowi said Seno was also under investigation for allegedly
defrauding the now defunct Bank Harapan Santosa (BHS) of Rp 3
trillion.

Seno is the son-in-law of Hendra Rahardja, one of the
directors of BHS, which was liquidated by the government last
year. (edt)