RCBC officials' appeal over dirty money raps denied


Posted at May 22 2019 01:21 PM | Updated as of May 22 2019 03:14 PM

MANILA -- State prosecutors denied the appeal of 5 Rizal Commercial Banking Corp officials against a decision that found sufficient grounds to charge them for money laundering over a $81-million cyber heist, the Department of Justice said Wednesday.

The 5 were accused of lifting a hold order on 4 RCBC accounts that received millions of dollars that were stolen from Bangladesh Bank's account with the Federal Reserve in New York, DOJ spokesperson Usec Markk Perete said in a statement. 

The accused failed to make a "reasonable inquiry about suspected wrongdoing, despite being aware that it is highly probable," according to the state prosecutors' resolution. Bangladesh Bank flagged the transfers.

RCBC said its officers would be "vindicated" since they were cleared of wrongdoing by third party investigators.

The Makati Regional Trial Court in January found former RCBC bank manager Maia Santos Deguito guilty of money laundering in connection with cyber heist.