Almost quarter of BB heist money recovered | daily-sun.com

Almost quarter of BB heist money recovered

Sun Online Desk     23rd October, 2017 12:33:33 printer

Almost quarter of BB heist money recovered

Bangladesh Bank provided an update Sunday on efforts to recover the money stolen from its treasury account with the Federal Reserve Bank of New York in February 2016.

 

The central bank claimed in a statement that with the active help of the Philippines Justice Department, till now $19.17 million of the $81 million that entered the Philippines had been recovered, while a process is in place to recover the rest.

 

It said some $29 million of the stolen money which landed in the Solaire, one of the premier names in the Philippines' gambling industry, remains frozen while a trial to determine how it got there continues in the courts of that country. Similarly an embargo was imposed on another $1.2 million which was deposited in the bank accounts of two casino staff.

 

Additionally another $17 million was detected in the account of money remittance company Philrem, which is now being pursued by the Anti-Money Laundering Council in Philippines.

 

The Bangladesh Bank statement also claims that the Rizal Commercial Banking Corporation (RCBC), whose staff were either deeply involved or had prior knowledge of the heist, even facilitating the breathtaking execution that left BB authorities at a complete loss as to how to react, have made a commitment that if the bank's involvement beyond some individuals acting alone could be proved, it would pay off the entire balance.

 

The BB has requested people not to be misled by any news without checking its credibility regarding the money recovery process, which now a section of people are spreading through social media.

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