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5 RCBC officials charged over $81-M theft from Bangladesh Bank

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By Jeffrey Damicog

The Department of Justice (DOJ) has filed charges against five officials of the Rizal Commercial Banking Corporation (RCBC) over their alleged involvement in the theft of $81 million from the Bangladesh Bank in 2016.

(REUTERS / MANILA BULLETIN)

(REUTERS / MANILA BULLETIN)

The DOJ filed the case last Monday before the Makati Regional Trial Court (RTC) after issuing a resolution finding probable cause to indict the five bank officials for violating Section 4(f) of Republic Act 9160, the Anti-Money Laundering Act of 2001.

Charged were officers of RCBC’s Retail Banking Group (RBG). They are former head Raul Victor Tan; National Sales Director Ismael Reyes; Regional Sales Director Brigitte Capiña; Customer Service Head Romualdo Agarrado; and Senior Customer Relationship Angela Ruth Torres.

“The resolution found the five officers of the RCBC Retail Banking Group remiss in their duties and thereby facilitated the offense of money laundering,” DOJ Spokesman Undersecretary Mark Perete said.

The panel of prosecutors which handled the case was able to determine that the five were instrumental in the lifting of the temporary hold on the four beneficiary accounts of the international inward remittances of funds allegedly wrongfully taken from the Bangladesh bank, and the withdrawal of such funds, among other acts.

“These acts were found to have been made even after notice of the irregularity in the transaction from the Bangladesh Bank,” he noted.

Perete added the resolution also found the five to have, among others, deliberately avoided knowledge of the crime “by failing to make a reasonable inquiry about suspected wrongdoing, despite being aware that it is highly probable.”

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