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Bangladesh Bank heist: RCBC, Bloomberry Resorts among 17 Philippines entities sued anew

Bangladesh Bank authorities have filed a fresh civil case last week against 17 Philippines entities, including the Rizal Commercial Banking Corporation, in a bid to recover 81 million USD lost in a cyber-heist in 2016, CNN reports.

Bloomberry Resorts Corporation, which operates Solaire Resort and Casino in Manila, told the Philippine Stock Exchange on Monday that the Bangladesh Bank filed a fresh case against its subsidiary Bloomberry Resorts and Hotels Inc and 16 others before a New York State Court.

"The charges made against the companies include conversion, theft, or misappropriation and aiding and abetting such acts," said the CNN report published yesterday.

Dhaka also accused those firms of conspiracy to commit fraud, trespass against chattels, and their "unjust enrichment," the company said.

Bloomberry's disclosure also stated that the Rizal Commercial Banking Corporation is being charged for fraud too, according to the CNN report.

"Summons has not been served here. BRHI will vigorously defend itself against these baseless charges," the company said.

In March, a district court in the United States dismissed conspiracy charges against RCBC and local casinos for their supposed violation of the American law Racketeer Influenced and Corrupt Organizations Act.

RCBC, as well as Eastern Hawaii Leisure Company Ltd, Centurytex Trading, and remittance firm Philrem Service Corp and their officers have been cleared of the charges by the US court.

Bangladesh authorities have appealed against the ruling on the previous case before the US Circuit Court of Appeals, Bloomberry said.

The cases stemmed from the cyber-heist in February 2016 where hackers tapped into the system of the US Federal Reserve in New York and authorised multiple fund transfers from the Bangladesh Bank's account to a number of fake bank accounts under RCBC, CNN reports.

The funds were wired during a long weekend, which left no scope for regulators to block the transactions. The funds were withdrawn, converted into pesos and eventually into poker chips and gambled in casino tables.

Of the amount, only $17 million has so far been recovered.

The case is the biggest money laundering incident involving the Philippines, which prompted lawmakers to require casinos to regularly report to authorities on big-ticket and suspicious transactions.

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Bangladesh Bank heist: RCBC, Bloomberry Resorts among 17 Philippines entities sued anew

Bangladesh Bank authorities have filed a fresh civil case last week against 17 Philippines entities, including the Rizal Commercial Banking Corporation, in a bid to recover 81 million USD lost in a cyber-heist in 2016, CNN reports.

Bloomberry Resorts Corporation, which operates Solaire Resort and Casino in Manila, told the Philippine Stock Exchange on Monday that the Bangladesh Bank filed a fresh case against its subsidiary Bloomberry Resorts and Hotels Inc and 16 others before a New York State Court.

"The charges made against the companies include conversion, theft, or misappropriation and aiding and abetting such acts," said the CNN report published yesterday.

Dhaka also accused those firms of conspiracy to commit fraud, trespass against chattels, and their "unjust enrichment," the company said.

Bloomberry's disclosure also stated that the Rizal Commercial Banking Corporation is being charged for fraud too, according to the CNN report.

"Summons has not been served here. BRHI will vigorously defend itself against these baseless charges," the company said.

In March, a district court in the United States dismissed conspiracy charges against RCBC and local casinos for their supposed violation of the American law Racketeer Influenced and Corrupt Organizations Act.

RCBC, as well as Eastern Hawaii Leisure Company Ltd, Centurytex Trading, and remittance firm Philrem Service Corp and their officers have been cleared of the charges by the US court.

Bangladesh authorities have appealed against the ruling on the previous case before the US Circuit Court of Appeals, Bloomberry said.

The cases stemmed from the cyber-heist in February 2016 where hackers tapped into the system of the US Federal Reserve in New York and authorised multiple fund transfers from the Bangladesh Bank's account to a number of fake bank accounts under RCBC, CNN reports.

The funds were wired during a long weekend, which left no scope for regulators to block the transactions. The funds were withdrawn, converted into pesos and eventually into poker chips and gambled in casino tables.

Of the amount, only $17 million has so far been recovered.

The case is the biggest money laundering incident involving the Philippines, which prompted lawmakers to require casinos to regularly report to authorities on big-ticket and suspicious transactions.

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টাইম ম্যাগাজিনের ১০০ প্রভাবশালীর তালিকায় ড. মুহাম্মদ ইউনূস 

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