Tag: Featured

    Though efforts are on to get back the stolen $81 million from the Bangladesh Bank, Philippines now finds ‘very low’ chance to retrieve it because the money is now likely outside the Southeast Asian country, reports UNB. “There is a very low chances that the government will be able to retrieve the $81 million stolen from the Bangladesh central bank,” Philippine Daily Inquirer quoted Philippine Senator Sergio Osmeña III as saying on Wednesday. Still, Osmeña said tracking the money from Bangladesh Bank would depend on the cooperation of casinos at the resumption today of the Senate inquiry into the money-laundering scheme. The stolen money found its way into casinos after being withdrawn from a branch of Rizal Commercial Banking Corp. (RCBC) in Makati City. Sen. Teofisto Guin...

    There is a very low chance that the government will be able to retrieve the $81 million stolen from the Bangladesh central bank because the money is now likely outside the country, Senator Sergio Osmeña III said Wednesday. Still, Osmeña said tracking the money from Bangladesh Bank would depend on the cooperation of casinos at the resumption today of the Senate inquiry into the money-laundering scheme. The stolen money found its way into casinos after being withdrawn from a branch of Rizal Commercial Banking Corporation (RCBC) in Makati City. Senator Teofisto Guingona III, chair of the Senate blue ribbon committee, said it would be very difficult to retrieve the money “given that it has entered the blackhole.” At the resumption of its hearing today, the Senate blue ribbon c...

    The decision to halt the recruitment of new foreign workers will not affect the validity of an agreement signed with Bangladesh for taking 1.5 million workers, says Malaysia Human Resources Minister Richard Riot. Malaysia’s decision to halt the recruitment of new foreign workers will not affect the validity of an agreement signed with Bangladesh for taking 1.5 million workers. This is because the Memorandum of Understanding (MoU) was for a period of five years, said Human Resources Minister Richard Riot. “The agreement will remain valid when the freeze is lifted. We have signed agreements for intake of foreign labour not only with Bangladesh but with seven countries. “The freeze does not make the agreements null and void,” he told The Star when met at Parliament lobby yest...

    Rizal Commercial Banking Corp. (RCBC) branch manager Maia Santos Deguito in the alleged scheme to launder US $81 million, saying she confessed she had done something wrong by opening an account in his name and even apologised for it. It was an account in William So Go’s name where the $81 million in questionable funds was consolidated before being transferred to casino accounts. But he has denied owning the account. Go, appearing before the Senate blue ribbon committee hearing, narrated his February 22 meeting with Deguito, facilitated by an East West Bank manager he identified as Allan Peñalosa. It was Peñalosa who first invited him to a meeting and even asked him if he wanted to earn “200 million”. Peñalosa told him he could not explain it fully and then brought him to me...