Hong Kong Recovery

In 2004, Hong Kong had MLA agreements with only 24 nations, making recovery of stolen assets difficult. For Indonesian investigators tracing Rahardja's assets, it remained unclear where and how much of his assets were abroad. Moreover, the lack of a Mutual Legal Assistance agreement between Hong Kong and Indonesia also hampered efforts. 

It is difficult for the ARKC to determine the amount of Hendra Rahardja's assets currently frozen in Hong Kong. Different news sources gave figures that range from USD 800 million to just USD 80 million. However, the HK Ministry of Justice will publicly confirm that only USD 3 million has been frozen at this time. 1

However, according to news sources, issues regarding sharing of assets emerged between Hong Kong and Indonesia when Hong Kong offered its assistance with a price attached-- an initial fee and 20% of the assets. Later, Australia reportedly stepped in and acted as an intermediary and is coordinating between the two countries. 

On 3 April 2008, Indonesia and Hong Kong signed a Mutual Legal Assistance agreement which will come before the Hong Kong Legislative Council on 11 March 2009 before becoming active. 

Developing...