RCBC manager in $81-M Bangladesh bank heist case indicted

The Department of Justice (DOJ) has indicted in court dismissed Rizal Commercial Banking Corp. (RCBC) bank manager Maia Deguito in connection with the $81 million in funds stolen by hackers from the Bangladesh Bank last year.

Eight counts of violation under the Anti-Money Laundering Act were filed against Deguito on August 30 which have since been raffled off to four branches of the Makati City Regional Trial Court.

Also charged were four account holders who were later found to be fictitious—Michael Francisco Cruz, Jessie Christopher Lagrosas, Alfred Santos Vergara, and Enrico Teodoro Vasquez.

The court set the bail for each count of money laundering for each accused at P100,000.

Deguito allegedly facilitated the transfer of the laundered money from the Bangladesh Bank to multiple accounts under four fictitious names at the RCBC branch on Jupiter Street, Makati City in February 2016.

From the multiple accounts, the money was allegedly consolidated into a single US dollar account in the name of Filipino-Chinese businessman William Go. The amount was then hastily withdrawn, converted into peso, and transferred to at least three casinos.

Specifically, the DOJ said the accused conspired and aided one another in committing the withdrawal of US$14,312,185.54 from Go's "irregular account" where the Know Your Customer procedure was not followed.

Under the KYC, banks are mandated by law to take note and verify the identification of their customers.

The DOJ said the US$14,312,185.54 was part of the stolen $81-million fund.

The department said the accused knew they were violating the Electronic Commerce Act and/or the Information and Communication Technology Act, the penal law of Bangladesh, yet they still proceeded with the transactions.

"Four of these payment instructions were cleared and credited to the RCBC, Jupiter Branch, savings accounts of beneficiaries 'Michael F. Cruz,' 'Jessie Christopher M. Lagrosas,' 'Alfred S. Vergara,' and 'Enrico T. Vasquez,' thereby making it appear that the said amount originated from legitimate sources, to the damage and prejudice of complainants," the criminal information read.

The DOJ earlier found probable cause to charge remittance firm Philrem Service Corporation (Philrem) owners-spouses Salud Bautista and Michael “Concon” Bautista and PhilRem Anti-Money Laundering Compliance Officer Anthony Pelejo for violations of the anti-money laundering law.

The Bautista couple and Pelejo, however, were not included in the criminal information filed with the Makati court.

No word yet from the DOJ if the complaints against the Philrem officials were junked on the basis of a motion for reconsideration. —NB, GMA News