'High-powered' Bangladeshi delegation to arrive in PHL to recover rest of $81M

A "high-powered" delegation from Bangladesh will arrive in the Philippines later this month to recover the rest of the $81-million stolen funds from the Bangladesh Bank last February.

"We are optimistic to recover the rest of the money and we are working with DOJ (Department of Justice) and AMLC (Anti-Money Laundering Council) in this regards," Bangladesh Ambassador to the Philippines John Gomes said in a text message to GMA News Online.

"[A] high-powered delegation is coming end of this month to meet senior Philippine officials and also make a courtesy call upon the Hon. President [Rodrigo Duterte]," he added.

This comes after Philippine officials over the weekend confirmed that $15 million of the stolen funds has already been properly returned to Bangladesh.

"Yes, turnover was made on Thursday, Nov. 10. Total amount turned over was $4,630,000 and P488,280,000," AMLC Executive Director Julia Bacay-Abad said in a separate text message.

To recall, $81 million was stolen from the account of the Bangladesh Bank with the US Federal Reserve in New York under a cross-border money laundering scheme in February.

The money was transferred to fictitious accounts at the Jupiter Street branch of the Rizal Commercial Banking Corp. (RCBC) in Makati City, then transferred to casinos and junket operators mostly through remittance firm PhilRem Service Corp.

The $15 million was surrendered by casino junket operator Kam Sin "Kim" Wong, who claimed he accepted the funds as payment for the debt of other Chinese junket operators not knowing that the money was part of the stolen funds.

This was turned over to the AMLC in four tranches:

• $4.6 million on March 31
• P38.280 million on April 4
• P200 million on April 19 through Wong's company Eastern Hawaii Leisure Co. Ltd. 
• P250 million on May 4

The amount was forfeited in favor of the Philippine government on July 7. The Bangladesh government officially claimed ownership of the funds through the Department of Justice in September.

According to AMLC's Abad, among those present during the turnover ceremony were Gomes, and two representatives of the Bangladesh Central Bank.

It was also witnessed by the Branch Sheriff of the Regional Trial Court of Manila Branch 53, the DOJ State Counsel, central bank officials, and the AMLC Secretariat officers.

This was also confirmed by Bangko Sentral ng Pilipinas (BSP) Deputy Governor Diwa C. Guinigundo in a separate text message.

Gomes said in July he is optimistic that $17.75 million would be returned to them "very, very soon."

This includes the $15 million already turned over, and the $2.75 million currently subject of a freeze order given the temporary restraining order (TRO) filed by the Supreme Court (SC) against the lifting of such measure.

Solaire Resort and Casino, where the funds are currently stored, said it will only return the money to authorities if there is a court order for them to do so.

Asked if this is still seen to be recoverable soon, Gomes said: "Yes, we are approaching in this direction."

Gomes also earlier said he was assured by President Rodrigo Duterte that the Philippines will "do whatever it takes" to hasten the recovery of all the $81 million. —ALG, GMA News