Friday, July 3, 2020 | ePaper

BB sues RCBC, Bloomberry Resorts anew for 2016 bank heist

  • Print
CNN  :
Bangladesh central bank filed a fresh case against Bloomberry Resorts and Hotels Inc and 16 others before a New York State Court.
Bangladesh authorities have renewed their bid to recover $81 million lost in a bank heist four years ago, filing a fresh civil case against 17 Philippine entities last week, reports the CNN.
Bloomberry Resorts Corporation, the company behind Solaire Resort and Casino in Manila, told the Philippine Stock Exchange on Monday about the case.The civil complaint charges the companies for conversion, theft, or misappropriation and aiding and abetting such acts.
Dhaka also accused these firms of conspiracy to commit fraud, trespass against chattels, and their "unjust enrichment," the listed firm said. Bloomberry's disclosure also stated that the Rizal Commercial Banking Corporation is being charged for fraud.
"Summons has not been served here. BRHI will vigorously defend itself against these baseless charges," the company added.
In March, a United States District Court 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.
The ruling on the previous case has been appealed by Bangladesh before the US Circuit Court of Appeals, Bloomberry said.
The cases stemmed from the February 2016 heist where thieves tapped into the system of the US Federal Reserve in New York and authorized multiple fund transfers from the Bangladesh Bank's account to a number of fake bank accounts under RCBC.
The funds were wired during a long weekend, which left no time for regulators to block the transactions. The funds were withdrawn, converted into pesos and eventually into poker chips and gambled in casino tables here, where the money trail vanished.
Of the amount, only $17 million has been recovered.
The case is the biggest money laundering incident involving the Philippines, which prompted lawmakers to require casinos to regularly report big-ticket and suspicious transactions to authorities.
Bloomberry previously said the Bangladesh Bank is relying on these court cases to collect the amount it supposedly lost to North Korean hackers.

More News For this Category

DU teachers must promise to retain intellectual independence and not be party activists

The country's highest academic echelon University of Dhaka (DU) has stepped into 100th year on its journey. We are proud that the university since its establishment had been branded

Highest 4,019 coronavirus cases, record 4,334 recoveries

News Desk :The death toll from the coronavirus (Covid-19) pandemic has spiked to 1,926 in Bangladesh as 38 more Covid-19 patients died in the last 24 hours, a top health

Bangladesh eyes global PPE market

Bangladesh eyes global PPE market

Staff Reporter :Local textile and apparel companies have scaled up production of personal protective equipment (PPEs) eyeing a share in the $60 billion global PPE market.Global PPE market was valued

US passes sanctions as nations condemn new Hong Kong law

The US House of Representatives has approved new Hong Kong-related sanctions, after Beijing imposed a security law that was condemned by countries around the world.The measure, which was passed unanimously,

Import of Indian goods through Benapole halted for 2nd day

Our Correspondent :Five port users' organisations have suspended import of Indian goods through Benapole port for the second day today on Thursday, protesting India's refusal to accept Bangladeshi exported goods.Following

DSCC opens modern food testing lab

Staff Reporter  :Dhaka South City Corporation (DSCC) has opened its own laboratory to test adulterated food, to be seized in different drives.Local Government and cooperatives Minister M Tajul Islam and

Govt decides to shut production at all state-owned jute mills

Staff Reporter :The government will shut production at all state-owned jute mill after clearing payments of the workers.Principal Secretary to the Prime Minister Ahmad Kaikaus made the announcement before the

Market of disinfectant products booms

Market of disinfectant products booms

Syed Shemul Parvez :Bangladesh officially announced the first coronavirus case on 8 March. Since then, the demand for germicide products has been increasing tremendously. The country's top two producers company

Homemade `Covid-19 Vaccine` on process of clinical trial

Staff Reporter :After getting animal model success, Globe Biotech, a Bangladeshi firm, claimed that clinical trial of its newly invented Covid-19 vaccine on human body is under process. "The Covid-19 vaccine,

Brahmanbaria gas field staff go on strike over Eid bonus

Our Correspondent :Workers of Bangladesh Gas Fields Company Limited in Brahmanbaria staged a demonstration this morning, to protest a decision of the authorities to slash Eid bonuses of their second