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Lippo Bank California

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BUSINESS
March 26, 1998
* Lippo Bank California, which has been based in Los Angeles since 1989, said it has moved its corporate headquarters to San Francisco. The company said no jobs were affected.
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BUSINESS
May 22, 1999 | Reuters
The U.S. Federal Reserve accused a little-known Caribbean-based firm of illegally acquiring a controlling interest in a Los Angeles bank owned by controversial Indonesian businessman James Riady. Riady and the bank, Lippo Bank California, figured prominently in congressional investigations into questionable fund-raising practices during President Clinton's 1996 reelection campaign. The Fed said BOT Corp.
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BUSINESS
October 24, 1998 | From Bloomberg News
James Riady, the Indonesian businessman whose family controls the Lippo Group of financial and real estate companies, is in talks to sell the group's California bank, it said. Lippo Bank California, which has about $100 million in assets, said it's in the "final stages of negotiations" to sell itself to another California company, which it didn't name. Riady owns 99% of San Francisco-based Lippo Bank California. Lippo employs about 65 people in offices in San Francisco, Los Angeles and San Jose.
BUSINESS
October 24, 1998 | From Bloomberg News
James Riady, the Indonesian businessman whose family controls the Lippo Group of financial and real estate companies, is in talks to sell the group's California bank, it said. Lippo Bank California, which has about $100 million in assets, said it's in the "final stages of negotiations" to sell itself to another California company, which it didn't name. Riady owns 99% of San Francisco-based Lippo Bank California. Lippo employs about 65 people in offices in San Francisco, Los Angeles and San Jose.
BUSINESS
May 22, 1999 | Reuters
The U.S. Federal Reserve accused a little-known Caribbean-based firm of illegally acquiring a controlling interest in a Los Angeles bank owned by controversial Indonesian businessman James Riady. Riady and the bank, Lippo Bank California, figured prominently in congressional investigations into questionable fund-raising practices during President Clinton's 1996 reelection campaign. The Fed said BOT Corp.
BUSINESS
August 21, 1997 | Evelyn Iritani
Los Angeles-based Lippo Bank California recorded net earnings of $128,033 for the two quarters ending June 30, after incurring losses of $678,000 for the same period in 1996 and $163,000 in 1995. The privately held bank, which has assets valued at $100 million, suffered overall losses of $5.3 million in 1996 and $3.2 million the previous year. Under orders from the Federal Deposit Insurance Corp.
BUSINESS
May 27, 1997 | Chris Kraul
Lippo Bank California will close its Westminster branch within 90 days and transfer the office's deposits to nearby Cathay Bank in response to a regulatory order from the Federal Deposit Insurance Corp. to improve earnings, capital and asset quality. Headquartered in Los Angeles with assets of about $100 million, Lippo will retain branches in Los Angeles, San Jose and San Francisco.
BUSINESS
November 10, 1998 | From Times Wire Services
James Riady, the Indonesian billionaire whose family controls the Lippo Group of financial companies, sold the group's California bank to Commercial Bank of San Francisco for $15.9 million in cash, both banks said Monday. Lippo Bank California, a trade finance and real estate business with about $87 million in assets, will combine with Commercial Bank, which has about $167 million in assets. The new company will be based in San Francisco, the banks said.
CALIFORNIA | LOCAL
January 17, 2001
James T. Riady, who heads the worldwide Lippo banking group and is a longtime friend of President Clinton, appeared in Los Angeles federal court Tuesday on charges related to illegal campaign contributions in the 1996 Democratic fund-raising scandal and during previous years. Last week, Riady, 44, of Indonesia, agreed to plead guilty to one felony count of conspiring to make illegal campaign contributions to Democratic candidates through foreign sources.
BUSINESS
March 26, 1998
* Lippo Bank California, which has been based in Los Angeles since 1989, said it has moved its corporate headquarters to San Francisco. The company said no jobs were affected.
BUSINESS
August 21, 1997 | Evelyn Iritani
Los Angeles-based Lippo Bank California recorded net earnings of $128,033 for the two quarters ending June 30, after incurring losses of $678,000 for the same period in 1996 and $163,000 in 1995. The privately held bank, which has assets valued at $100 million, suffered overall losses of $5.3 million in 1996 and $3.2 million the previous year. Under orders from the Federal Deposit Insurance Corp.
BUSINESS
May 27, 1997 | Chris Kraul
Lippo Bank California will close its Westminster branch within 90 days and transfer the office's deposits to nearby Cathay Bank in response to a regulatory order from the Federal Deposit Insurance Corp. to improve earnings, capital and asset quality. Headquartered in Los Angeles with assets of about $100 million, Lippo will retain branches in Los Angeles, San Jose and San Francisco.
CALIFORNIA | LOCAL
March 20, 2001 | DAVID ROSENZWEIG, TIMES STAFF WRITER
James Riady, an Indonesian friend of former President Bill Clinton, pleaded guilty to a felony charge Monday and was fined a record $8.59 million for bankrolling illegal foreign campaign contributions to an assortment of American politicians. "Mistakes have been made which I regret," Riady told Los Angeles federal court Judge Consuelo B. Marshall before being sentenced to two years' probation.
NEWS
April 19, 1997 | From Times Staff and Wire Reports
James Riady, the Indonesian tycoon whose support of President Clinton is now a subject of numerous federal investigations, has injected an additional $6 million into his Los Angeles-based bank to satisfy federal regulators. Riady's LippoBank of California also announced that it will trim its work force and will dispose of "a group of nonperforming real estate loans," in an effort to reduce the bank's annual overhead by about $1.2 million.
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