Dhaka, Bangladesh
Case in US court within January

Move on reserve heist

Case in US court within January

Says new finance minister

News Report Finance Minister AHM Mustafa Kamal on Sunday said Bangladesh Bank (BB) is taking all sorts of preparations to file a lawsuit with a New York (NY) court within the current month of January to recover the whole money heisted from the central bank's account with the Federal Reserve Bank of New York. "We are taking preparations for filing the case. The case will be filed within this month. A Bangladeshi lawyer and a lawyer from the USA are looking after the matter. They will jointly file the case. However, the final decision against whom the case will be filed is yet to be taken," he said. The minister was talking to journalists after a meeting with the officials of Financial Institutions Division and Bangladesh Bank on BB's reserve heist at the Finance Ministry in the city. Among others, Financial Institutions Division Secretary M Ashadul Islam and BB Governor Fazle Kabir were present at the meeting. Kamal said the two lawyers will take decision who will be the defendant and who will be the plaintiff in the case. Hackers stole a total $101 million from Bangladesh's account at the New York Fed in February 2016. Of the amount, $81 million was transferred to four accounts at the Rizal Commercial Banking Corp (RCBC) in Manila and another $20 million to a bank in Sri Lanka. But the transfer of $20 million to Sri Lanka had failed because of a spelling error by the hackers. Later, BB was able to retrieve about $15 million from Philippines Meanwhile, Philippine court recently held a former bank manager guilty on eight counts of money laundering, the first conviction in one of the world's largest cyber heists, in which $81 million was stolen from Bangladesh's central bank nearly three years ago. The regional court sentenced Maia Deguito, a former branch manager at Manila-based Rizal Commercial Banking Corp (RCBC), to a jail term ranging from 32 to 56 years, with each count carrying four to seven years. She was also ordered to pay a total fine of about $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.

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