Halister News

(Bloomberg) -- Senators investigating how $81m of stolen funds from Bangladesh reserves were laundered in Philippines will try to get local casinos to detail fund transfers, Senator Serge Osmena tells reporters in Makati City.

• “We’re looking for electronic trail and the casinos may be able to tell us if they cooperate in the probe,” he says
• Senate blue ribbon committee invited representatives of Bloomberry’s Solaire casino at 2nd hearing on Thursday
• Also invited is Cristino Naguiat, head of Philippine Amusement and Gaming and regulator of local casinos
• Osmena says closed-door hearing with Rizal Bank branch manager Maia Santos Deguito will clarify how fictitious accounts used to launder money were set up
• “Deguito is a key player here because if you don’t have the cooperation of the branch manager, this could not have not been done, unless it was done at the head office,” Osmena says
• Bank Secrecy Law being used to protect criminals: Osmena
• NOTE: Anti-Money Laundering Council filed a complaint against Deguito for allegedly aiding withdrawal of stolen funds from Bangladesh central bank Link, her lawyer Ferdinand Topacio declined to comment on complaint; at Tuesday hearing, Deguito invoked right against self- incrimination and asked for closed-door session