DOJ turns down appeal of five RCBC officers to clear them of money laundering

May 22, 2019

The Department of Justice (DOJ) has turned down the appeal of five officers of the Rizal Commercial Banking Corporation (RCBC) seeking to clear them of alleged violation of the Anti Money Laundering Act in connection with the $81-million cyber heist involving funds owned by Bangladesh Bank.

In a resolution signed by Assistant State Prosecutor Mary Jane Systat Tuesday, the DOJ upheld the application of the “willful blindness-doctrine” in finding probable cause to indict respondents Raul Victor Tan, its former head, national sales director Ismael Reyes, regional sales director Brigitte Capiña, customer service head Romualdo Agarrado and senior customer relationship Angela Ruth Torres for violation of the Anti-Money Laundering Act of 2001.

The DOJ said charges has been filed against the five RCBC officers before the Regional Trial Court of Makati City, Branch 141.

In a statement by RCBC legal counsel Thea Daep, the bank said it is '' confident that they will be vindicated since our investigation, conducted by independent third parties, concluded they had no knowledge about the alleged money laundering activity at all.''

''We expect the complaint to be dismissed consequently.'' added Daep.

The willful blindness-doctrine is defined as the deliberate avoidance or knowledge of a crime, especially by failing to make reasonable inquiry about suspected wrongdoing, despite being aware that it is highly probable.

The five RCBC officers are being accused of facilitating the suspicious transactions involving the accounts of a certain Michael Cruz ($6 million), Jessie Christopher Lagrosas ($30 million), Alfred Vergara ($20 million), and Enrico Vasquez ($25 million) despite stop payment requests from the Bangladesh Bank.

Earlier, RCBC Jupiter Branch Manager Maia Santos-Deguito was found guilty for eight counts of violation of the AMLA involving the Bangladesh Bank funds.

On February 2016, hackers illegally transferred nearly $1 billion from the Bangladesh central bank. Investigation revealed around $81 million went into the Philippines where the money was said to have been laundered from the bank and into a casino. DMS