Wednesday, June 19, 2019

Jan 10 19, 6:38 am

Major UAE road to be closed starting Friday

A major road in Abu Dhabi will be closed for 28 days starting June 21 to undergo major improvement, according to the Integrated Transport Center of Abu Dhabi (ITC). The ITC said closure starts at 12 midnight on Friday. The ITC advises motorists to abide by the traffic...

Two arrested for trespassing on private property

The Criminal Court of Fujairah heard the case of two men accused of trespassing on a farm owned by an Emirati. It all started when the victim came to check on his farm which contains sheep and chicken, to be surprised when he saw the 2 men trying to enter without any...

Former RCBC manager found guilty of money laundering

by | News

Jan. 10, 19 | 6:38 am

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The money was then withdrawn and laundered through several casinos.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

Jobs

Editors Choice

Biggest PH Independence Day celebration in UAE’s history

Biggest PH Independence Day celebration in UAE’s history

DUBAI: For the first time in UAE’s history, two of the country’s top tourist destinations, namely Burj Khalifa, the world’s tallest tower; and Dubai Festival City Mall, displayed a light show on Philippine Independence Day. For the first time as well, major parks in...

Duterte signs ‘Magna Carta for the Poor’

Duterte signs ‘Magna Carta for the Poor’

DUBAI: Staying true to his campaign promise three years ago on effecting changes for the common good of the Filipino people, President Duterte, who has further consolidated his grip on power with the recently-concluded midterm polls and apparently determined on...

Pinoys in UAE upbeat about Expo 2020

Pinoys in UAE upbeat about Expo 2020

DUBAI: Preparations for the Philippines’ participation at Expo 2020 is fast gathering steam with the one-million-strong local Filipino community upbeat about the chance to showcase the country to the world through the much-anticipated event. A recent post on The...

Major UAE road to be closed starting Friday

A major road in Abu Dhabi will be closed for 28 days starting June 21 to undergo major improvement, according to the Integrated Transport Center of Abu Dhabi (ITC). The ITC said closure starts at 12 midnight on Friday. The ITC advises motorists to abide by the traffic...

Two arrested for trespassing on private property

The Criminal Court of Fujairah heard the case of two men accused of trespassing on a farm owned by an Emirati. It all started when the victim came to check on his farm which contains sheep and chicken, to be surprised when he saw the 2 men trying to enter without any...

Renowned artist holds workshop at PCG

Renowned painter and sculptor Manuel Baldemor held an Interactive Painting Workshop at the Philippine Consulate General's Rizal Hall yesterday 18 June 2019. The workshop brought together some 25 painters/artists from Dubai and the Northern Emirates. Consul General...

Vargas quits post as POC boss

Citing “corporate responsibilities and family sentiments” as having played a big role in his decision to do so, Philippine Olympic Committee President Ricky Vargas has called it quits. “After much introspection, I have determined that there would be other sports...

Recent posts

We listed over 1,000,000 jobs from United Arab Emirates monthly.

Accomodation option available in the market.

Latest News
Subscribe to our free weekly newsletter and never miss a thing. No spam. Only hand-picked trending news.

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.

FOLLOW US

SIGN UP FOR NEWSLETTER

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.

FOLLOW US

SIGN UP FOR NEWSLETTER

© 2018 The Filipino Times. All rights reserved

Subscribe To Our Newsletter

Join our mailing list to receive the latest news and updates from our team.

You have Successfully Subscribed!

More in News
POEA warns aspiring OFWs vs use of fake medical certificate
Published On  January 10, 2019
GDRFA tells jobseeker visa holders: ‘Leave when your visa expires so you can come back’
Published On  January 9, 2019
You can now travel from Dubai Marina Mall to Dubai Mall by boat
Published On  January 9, 2019
Close