Discuss as:

Ferraris fueled glamour lifestyle in Citibank corruption case

Reuters reports: An Indonesian court convicted on Wednesday a former relationship manager with Citibank of money laundering in a case involving Ferraris bought with ill-gotten cash that powered the lifestyles of a glamour-hungry clique.

A district court in South Jakarta sentenced Inong Malinda Dee, 49, to eight years in prison and a 10 billion rupiah ($1.1 million) fine in a measure of the seriousness of a crackdown on endemic corruption in Southeast Asia's largest economy.

Dee ordered 117 transfers each worth up to 2 billion rupiah ($223,000) from her Citigold clients' accounts to her or acquaintances between 2007 and 2011, prosecutors said during her trial. Read more.