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DOJ Files Money Laundering Case Against 5 RCBC Execs

DOJ – The Department of Justice (DOJ) filed a money laundering charges against 5 Rizal Commercial Banking Corporation (RCBC) officials.

The Makati Regional Trial Court (RTC) branch 149 found the former RCBC branch manager Maia Deguito guilty of money laundering.

She cleared and processed the money stolen by hackers three years ago. The RCBC ex-manager was sentenced 4-7 years in jail and ordered to pay $103 million.

Photo Source: Inquirer

Based on a report from CNN, the Department of Justice filed money laundering charges against 5 RCBC officers for alleged involvement in Maia Deguito case.

DOJ Undersecretary Markk Perete said a case has been filed against National Sales Director Ismael Reyes, ex-RCBC treasurer Raul Victor Tan, customer service head Romualdo Agarrado, Regional Sales Director Brigitte Capiña, and senior customer relationship officer Angela Ruth Torres.

The five personalities mentioned above were members of the RCBC’s Retail Banking Group.

Photo Source: BusinessWorld

According to the report, the authorities found several reasons to charge those 5 RCBC officials for violating the Anti-Money Laundering Act.

“As defined, ‘willful blindness’ is the deliberate avoidance or knowledge of a crime, especially by failing to make a reasonable inquiry about suspected wrongdoing, despite being aware that it is highly probable. There is no better way to describe the acts of respondents Tan, Capiña, Reyes, Agarrado, and Torres than this.”

“Their complacent attitude in handling the suspicious remittances is unacceptable, and rocked the integrity of our banking system,” the 10-page the resolution read.

Photo Source: Manila Bulletin

Based on the report, Markk Perete said the 5 officials ushered the stolen money from Bangladesh bank’s account in New York to the Philippines via RCBC.

“The five were found 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,” Perete added.

Photo Source: Rappler

Furthermore, the RCBC said they expect that the money laundering charges against their employee will be dropped in the end.

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