HALISTER1: MORE: Philippines Seeks to Recover Bangladesh Funds From Casinos

MORE: Philippines Seeks to Recover Bangladesh Funds From Casinos

(Bloomberg) -- Anti-Money Laundering Council seeks to recover from casinos portion of $81m funds stolen from Bangladesh central bank, Executive Director Julia Abad says at Senate hearing in Manila.
  • Council to file civil forfeiture case to recover funds from casinos, junket operators and return to Bangladesh: Abad
  • Senator Bam Aquino asks Bloomberry, Midas Casino and junket operators if they’re willing to return gambling profit from stolen Bangladesh reserves
  • Bloomberry lawyer Silverio Benny Tan says it will be a management decision; Bloomberry owns Solaire casino
  • Midas Hotel & Casino lawyer Katrina Nepomuceno says profit has been divided with junket agents for commissions, while portion was remitted to gaming regulator
  • Lawyers of junket operators SunCity, Gold Moon say they will explain options to clients, who were not at the hearing
  • NOTE: Network of 19 Gamblers to Be Focus of Philippine Heist Hearing Link
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
BLOOM PM (Bloomberry Resorts Corp)

People
Julia Bacay-Abad (Anti-Money Laundering Council)

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