later cleared.<\/a><\/p>\r\n<\/div>\r\nHe testified before a Philippine legislative hearing that he had been told to expect the money from Gao and Ding. The pair owed him $10 million in gambling debts — a sum not uncommon in the high-stakes junket industry. The remainder was converted into chips for Gao and Ding\u2019s VIP clients.<\/p>\r\n
Wong agreed to repay the bulk of the money — some $15 million. To date, this is all that has been recovered by Bangladesh Bank from the $81 million that was traced to the Philippines.<\/p>\r\n
In January 2019, bank manager Deguito was sentenced to four to seven years in prison and fined over $100 million for her role in moving the money. She is the only person to have been prosecuted for the crime.\u00a0<\/p>\r\n
Gao and Ding have disappeared without a trace.<\/p>\r\n\r\n
<\/p>\r\n","protected":false},"excerpt":{"rendered":"
Bangladesh Bank has appealed last month\u2019s US federal court ruling that dismissed claims of liability against Philippine casino operator Bloomberry Resorts in 2016\u2019s New York Federal Reserve cyber heist. In January 2019, Bangladesh Bank sued Bloomberry, along with Philippine bank Rizal Commercial Banking Corporation (RCBC), under the anti-racketeering RICO Act as it attempted to recoup […]<\/p>\n","protected":false},"author":36,"featured_media":133924,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[60],"tags":[],"acf":[],"yoast_head":"\n
Bangladesh Appeals Ruling Clearing Bloomberry Resorts Over Fed Heist<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n