Word: lippo
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Dates: during 1990-1999
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...with illegal campaign money, although Democrats confirmed that a classified briefing provided evidence to suggest China had at least tried to influence the congressional elections last year. But in its helter-skelter way, the committee began to construct a coherent tale. Asian money--specifically from Indonesia's Lippo Group and its onetime executive Huang--had infiltrated Democratic coffers longer, deeper and with more political strings attached than had previously been known...
While some Democrats blame the high cost of political advertising during the '96 race for the party's overseas chase of unrestricted "soft money," Lippo funds had started flowing four years earlier, according to checks produced at the hearings. After Clinton secured the nomination in 1992, the Riady family, which owns Lippo, contributed $480,000 to Democrats, most of it scattered quietly to state parties. The same year, Lippo provided an additional $50,000 to the national party. The money was sent in by a U.S. subsidiary controlled by Huang and identified as a political gift in his expense report...
Both parties claim to accept money from such subsidiaries only if it comes from profits earned in the U.S. Yet the $50,000 donation and the $45,000 in checks given a year later came from Lippo subsidiaries that had been running in the red. Their leader, Huang, was looking for political profit. His note to chief of staff Jack Quinn thanked him for receiving Huang and Chinese official Shen Jueren at the White House, and for delivering the Vice President three days later to a Los Angeles event. Democratic sources tell TIME that on Sept. 27, 1993, Gore dropped...
...Lippo's campaign for Washington clout began shortly after Bill Clinton's swearing-in. The Riadys, who control Lippo, formed a partnership with their old friend Giroir to line up U.S. investors for the family's Asian ventures. Giroir, 58, had been a risk taker ever since he made his mark as Arkansas's first big-time securities lawyer two decades ago. As the Rose Law Firm's managing partner, Giroir helped hire Hillary Clinton but was then ousted by her and other partners after some of his outside deals began to conflict with Rose's interests. By then, Giroir...
...Riady-Giroir venture--Arkansas Industrial Development Corp., from which Giroir drew a $360,000-a-year salary--was financed by a Lippo subsidiary. Giroir's job included serving as Lippo's unofficial representative to the White House. Investigators tell TIME that Giroir used his Arkansas contacts to set up a meeting there in April 1994 for prospective Chinese partners with Lippo in a huge China power-plant project. But Huang, then head of Lippo's U.S. operations, wanted a regular role for himself in the Clinton Administration. So investigators now want to know if Giroir pulled any strings...