Catwalk Empire - Indonesia

Indonesia's corrupt banking sector poised for boom

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With 60,000 millionaires the cash is splashing around in Indonesia. Yet recently their playground has been invaded by two major scandals that reveal the full extent of the country's endemic corruption.

Malinda Dee's smile is immovable as she walks down the catwalk, in a luxuriant green dress, her neck covered in diamonds. Yet behind this polished look lies the story of a major banking scandal. A former employee at Citibank, Malinda is now in jail awaiting trial for allegedly stealing from her clients - something even her lawyer has not denied: "Malinda would use the clients' money, then she would return it". She was allowed to carry on unchecked by Citibank because of the number of high-profile clients she brought in. Yet while the bank was losing millions and not even noticing at the top end, at the other end its heavy-handed tactics cast a dark cloud over the country. Irzen Octa had accrued a credit card debt of $5,000 and was subject to intimidation by Citibank's debt collectors. When he visited his local bank branch he ended up dead. "Lots of people have the same experience of being terrorised", says Octa's wife. Yet despite the corruption, big credit rating agencies are about to pump billions of investment into the system. "Whether it's a dark alley of debt collectors or the Ferraris of Malinda, it just shows how acceptable it is in this country to make money by any means."

A Film By ABC Australia
Distributed By Journeyman Pictures
June 2011

Category:

News & Politics

Tags:

• Indonesia
• Corrupt
• Catwalk
• Empire
• Fashion
• Banking
• Scandal
• Journeyman
• Pictures

[BBnSS]

@ohmrey Why would you leave it to God? In European medivale timesthe people in power -meaning the monarchs, aristocrates, and church officials- were all corrupt and kept the commun people ignorant and abused them with the excuse of 'Leave it all to god'.

You probably don't relise it, but you are encouraging ignorance, inequalities and corruption.

What should happen, is that a secular and uncorrupt justice system should investigate it.

[OGRMaster]

All politicians are evil.

[Silvoleon]

@WellIAMScottish 5000 is a lot of money for a commoner in Indonesia. Although it is nothing for other countries with a higher living standard. That's some people's yearly income.

[WellIAMScottish]

Wait WTF the banker murdered his customer for owing $5,000?! The rational side of me thinks there's more to the story, the other rational side of me says this is more common than you think you just haven't heard about it.

[bennlonelyboy]

Melinda Dee = Citibank (USA)

[Kaiserzel]

I'm an Indonesian, and I can understand Indonesian's way of life, especially the banking industry's way of doing things.. people can get so rich in just a glimpse of time by compromising with the financial giants, or can also killed right away if messing around with them.

[mauriceh995]

24:40

david cameron was the camera man

[reashot]

@xplosivelilly they want to but they can't cause if they do they have to compete with all the other high quality manufacturing countries. Don't worry about it in the future everyone will be culturally dead this the 21century we are living in a time where culture literally dying before our eyes.

[xplosivelilly]

@reashot then what's the hold back? peple are so absorbed in absurd tradition. Imagine in South Africa pple say having sex with a virgin would cure you from HIV.

[reashot]

@xplosivelilly what make you think india & china don't want to create high quality product themselves?

[xplosivelilly]

@reashot that's my point. why does europe have to make the high quality products. why not indians, chinese etc?