Court finds bank manager guilty in $81-M cyber heist
A Makati Regional Court on Thursday held a former bank manager guilty on eight counts of money laundering, in a cyber heist in which $81 million was stolen from Bangladesh's central bank nearly three years ago.
The Makati Regional Trial Court Branch 149 sentenced Maia Deguito, a former branch manager of Rizal Commercial Banking Corp. (RCBC), to 4 to 7 years in prison for each of the 8 counts of money laundering.
“Wherefore, premises considered, this court hereby finds accused Maia SantosDeguito guilty beyond reasonable doubt, hence this court hereby imposes penalty of imprisonment and fines," the decision read.
According to Deguito's lawyer Demetrio Custodio, his client will not be jailed and will be on provisional liberty until the finality of the decision. Deguito is also out on bail and the bond is without expiration, he said.
"Therefore our option of filing of filing a motion for consideration is still available. In the meantime and while that is pending, there will be no incarceration," Custodio said.
Aside from the jail sentence, Deguito was fined a total of $109 million.
In February 2016, unknown criminals used fraudulent orders on the SWIFT payments system to steal the funds from the Bangladesh's central bank account at the Federal Reserve Bank of New York.
The money was sent to accounts at a branch of RCBC in Manila then headed by Deguito, before it disappeared into the casino industry in the Philippines.
"Her declaration in open court that she has nothing to do with these transactions was a complete and comFormer
prehensive lie," the court said in its 26-page ruling.
Deguito facilitated and coordinated and corroborated in the execution and implementation of the illegal bank transactions, the court added.
"The conviction of Deguito is consistent with the bank's position that it is the victim in this situation and that Deguito is a rogue employee," RCBC spokeswoman Thea Daep said in a statement.
Custodio, told Reuters she intended to appeal Thursday's ruling and carry the case to the Supreme Court, if necessary, to win acquittal.
"We hope that this case could be expedited and could go to trial soon for a decision," Asad Alam Siam, Bangladesh's ambassador to the Philippines, told Reuters, regarding the charges.
Just $15 million of the stolen money has been recovered from a Manila junket operator, a role that involves marketing casinos to VIPs.
Bangladesh bank, finance and law ministry officials are visiting New York this week for talks to try and move forward the recovery process. They will have to make a decision on suing the parties involved.