Friday, January 18, 2019

Jan 10 19, 6:38 am

Sri Lankan president all praises for Duterte’s drug war

Sri Lankan President Maithripala Sirisena on Wednesday, January 16, praised President Rodrigo Duterte’s war against drugs and dubbed it as “an example to the whole world”. During a state banquet as a part of Sirisena’s state visit in the Philippines, the Sri Lankan...

Man dies, mother and daughter sustain injuries in Sharjah attack

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Filipina tourist missing in Indonesia since Christmas

A Filipina tourist has been missing in Bali, Indonesia since Christmas, the Department of Foreign Affairs (DFA) said. The Philippine Embassy in Jakarta said it has filed a missing person report for Ella Balmaceda Paaño after her family in the Philippines reported...

Former RCBC manager found guilty of money laundering

by | News

A former Rizal Commercial Banking Corp. (RCBC) bank manager on Thursday, January 10, was found guilty of eight counts of money laundering in relation to the $81 million (Php4.22 trillion) funds stolen from Bangladesh’s central bank.

The Makati Regional Trial Court Branch 149 sentenced former RCBC bank manager Maia Santos Deguito to four to seven years in prison for each count on top of a $109 million (Php5.68 trillion) fine.

In 2016, a total of $81 million was hacked from the Bangladesh Bank with the New York Federal Reserve and was transferred to four RCBC accounts applied under Deguito’s branch on Jupiter Street, Makati City.

The money was then withdrawn and laundered through several casinos.

Deguito is said to have facilitated the transaction from the creation of the bank accounts to the transferring of the money but the former bank manager defended herself saying that she only followed instructions from the RCBC main office.

Following the conviction, Deguito maintained her innocence and claimed that she was a mere scapegoat in the crime. RCBC former president Lorenzo Tan and other officials were earlier cleared from the case.

Deguito’s lawyer, Demetrio Custodio, said that his client “could not have acted on this because her position at the bank was one of customer care and therefore she had no function that will relate to the operation of banking transactions.”

“I am disheartened to believe that due to the amount involved here, only a very lowly person is prosecuted by the government. There should be more people who should be liable to this other than a very lowly bank officer who had nothing to do with operational matters,” he added.

The case is deemed to be one of the biggest cyber-heists involving a Philippine bank.

PHOTO: Senate PRIB via InterAksyon

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THE FILIPINO TIMES is the biggest and most trusted Filipino newspaper in the UAE.

It has a print run of 60,000 copies and 250,000 readership per week; bolstered by 1 million visitors to its website every month. It also has an e-newsletter sent to its 250,000 subscribers every day.

The Filipino Times is FREE and has the widest targeted circulation across the 7 emirates of the UAE.

With more than 2,500 strategic distribution spots, TFT is available where the Filipinos are - at Smart Bus Shelters, Metro Stations, restaurants, supermarkets, schools, airport lounges, Emirates and Etihad Philippine-bound flights, churches, Filipino community events and many more.

THE FILIPINO TIMES. We are where the Filipinos are.

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