Skip to main content
NTv Online

Bangladesh

Bangladesh
  • Accident
  • Crime
  • Environment
  • Government
  • Law
  • More
  • Politics
  • Society
  • Bangla Version
  • Archive
  • Bangladesh
  • World
  • Sports
  • Entertainment
  • Business
  • Comment
  • Education
  • Life
  • Health
  • Art & Culture
  • Election
  • বাংলা
  • Bangladesh
  • World
  • Sports
  • Entertainment
  • Business
  • Comment
  • Education
  • Life
  • Health
  • Art & Culture
  • Election
  • বাংলা
  • Bangla Version
  • Archive
Follow
  • Bangladesh
AFP
31 March, 2016, 18:25
Update: 31 March, 2016, 18:25
More News
Over 1000 people killed, 400 lost eyesight in student movement: Health Adviser
No condition for IMF loan to Bangladesh: PM tells Parliament
Don’t stop cultivating cash crops, increase production: PM
Tk 246cr to be spent on hilsa development, project cleared
FM seeks cooperation from diplomats in bringing back Bangabandhu's killers

Philippines recovers $4.63 million stolen from Bangladesh

AFP
31 March, 2016, 18:25
Update: 31 March, 2016, 18:25
Inocencio Ferrer, lawyer of Chinese casino junket operator Kim Wong, shows a document confirming the Phillippine anti-money laundering council received $4.63 million, part of the $81 million stolen from Bangladesh's central bank, during a news conference at the Central Bank of the Philippines in Manila March 31, 2016. REUTERS

Manila, Philippines: More than $4.5 million of tens of millions recently stolen from Bangladesh and funnelled into Philippine casinos was recovered Thursday, as a lawmaker in Manila said almost half the haul could still be salvaged.

On February 5, unidentified hackers shifted $81 million from the Bangladeshcentral bank's account with the US Federal Reserve to a nondescript bank in Manila, and then to the casinos where the trail went cold.

Representatives for casino agent Kim Wong, who is under criminal investigation after a portion of the stolen money was traced to his account, surrendered $4.63 million in cash to the Philippine central bank on Thursday.

"He kept his promise to return the money," Wong's lawyer Innocencio Ferrer said in a statement.

Wong testified at a marathon parliament hearing Tuesday that two high-rollers from Beijing and Macau shifted the $81 million to dollar accounts in Manila's Rizal Commercial Banking Corp (RCBC).

Wong said he did not know the money was stolen from Bangladesh and that he merely helped the two men -- who are also his casino clients -- open bank accounts.

He offered to return the money, which he said remained in his account in Solaire, one of the Philippine capital's gleaming billion-dollar casinos.

Earlier Thursday, Filipino Senator Ralph Recto said as much as $34 million -- almost half of the sum stolen -- could be recovered from two casinos and a foreign exchange brokerage based on testimonies from the hearing.

By Recto's own calculations, this would include $17 million that Wong claimed was still with exchange brokerage Philrem and $10 million from a destitute casino in the north.

There was also $5.5 million that Wong picked up from the house of Philrem's owner and a further $2.3 million in the Solaire casino account of the Macau man who allegedly brought the $81 million to the Philippines.

"Our law enforcement agencies must act swiftly to recover any portion of the loot that is still within Philippine soil," Recto said in a statement.

"It is very important to recover as much of the money and return it toBangladesh. The money was stolen from a poor country," he added.

The brazen heist highlighted how the Philippine’s banking loopholes and anti-money laundering laws have made the impoverished and corruption-weary Southeast Asian nation a dirty money destination.

Philippine law exempts casino transactions from scrutiny by the country's anti-money laundering council without a case filed in court.

The senate is scheduled to resume its investigation next week.

Most Read
  1. Mosaddak Ali, two others discharged in money laundering case
  2. Over 1000 people killed, 400 lost eyesight in student movement: Health Adviser
  3. Help Jannat to beat cancer
  4. Mastermind’s finance event to knock the city
  5. Authorities urged to consult on vape ban proposal
  6. No condition for IMF loan to Bangladesh: PM tells Parliament
Most Read
  1. Mosaddak Ali, two others discharged in money laundering case
  2. Over 1000 people killed, 400 lost eyesight in student movement: Health Adviser
  3. Help Jannat to beat cancer
  4. Mastermind’s finance event to knock the city
  5. Authorities urged to consult on vape ban proposal
  6. No condition for IMF loan to Bangladesh: PM tells Parliament

Follow Us

Alhaj Mohammad Mosaddak Ali

Chairman & Managing Director

NTV Online, BSEC Building (Level-8), 102 Kazi Nazrul Islam Avenue, Karwan Bazar, Dhaka-1215 Telephone: +880255012281 up to 5, Fax: +880255012286 up to 7

Browse by Category

  • About NTV
  • NTV Programmes
  • Advertisement
  • Web Mail
  • NTV FTV
  • Satellite Downlink
  • Europe Subscription
  • USA Subscription
  • Privacy Policy
  • Terms & Conditions
  • Contact

Our Newsletter

To stay on top of the ever-changing world of business, subscribe now to our newsletters.

* We hate spam as much as you do

Alhaj Mohammad Mosaddak Ali

Chairman & Managing Director

NTV Online, BSEC Building (Level-8), 102 Kazi Nazrul Islam Avenue, Karwan Bazar, Dhaka-1215 Telephone: +880255012281 up to 5, Fax: +880255012286 up to 7

Reproduction of any content, news or article published on this website is strictly prohibited. All rights reserved