NewsMax.com
Tuesday, March 20, 2001

Assistant United States Attorney Daniel O'Brien called the fines "the largest in the history of the United States."

In Los Angeles, U.S. District Judge Consuelo Marshall accepted Riady's guilty plea Monday of violating federal laws prohibiting foreign campaign contributions.

Riady's family runs the Indonesia-based global conglomerate Lippo Group.

The government charged that the contributions were funneled through Hong Kong bank accounts and Lippo entities overseas.

The Associated Press reported that:

The fines are about 45 percent of Riady's net worth, estimated at around $20 million.

When the judge questioned where the money to pay the fines will come from, since Riady's firm, LippoBank, no longer exists, Riady's lawyers said he would pay them out of his own pocket.

The first of four installments – more than $2 million – was to be paid immediately.

Questioned by the judge as to whether he understands what he did was a violation of U.S. laws, Riady replied:

"I was not familiar with these rules and regulations, but I had a general sense that if you contributed it should be your own money."

John Huang, a Riady colleague, had earlier pleaded guilty of campaign violations and turned prosecution witness.

Under questioning, Riady acknowledged Huang had reimbursed other people to make contributions to Clinton's 1992 successful presidential campaign.

The judge asked Riady if he realized he had been providing the money in the form of bonuses to Huang to violate campaign finance laws.

Riady responded, "Yes, your honor, not necessarily personally, but the companies I worked for."

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