Time magazine ordered to pay Suharto $106m

The Supreme Court ordered Time magazine to pay $106 million in damages for defaming former Indonesian ruler Suharto by alleging his family amassed $15 billion during his 32-year rule, officials said yesterday.

The May 1999 cover story in the magazine's Asian edition said much of the money had been transferred from Switzerland to Austria before Suharto stepped down amid riots and pro-democracy protests in 1998.

Suharto, who has also been accused of widespread rights abuses, had filed a lawsuit with the Central District Jakarta and later the Jakarta High Court, both of which ruled in Time's favor.