Two suspects charged for involvement in $81 million money laundering scheme

Monday 21st of March 2016

Criminal charges have been filed against two suspects allegedly behind the $81 million money laundering scandal in the Philippines, local media reports.

In its filing with the Philippines’ Department of Justice, the Anti-Money Laundering Council says it has sought to file charges against Kam Sin Wong and Weikang Xu for violating anti-money laundering laws by taking some of the money stolen in the Bangladesh Bank heist.

The charges are based on a witness testimony which indicated that $29 million of the stolen funds was directed to the account of a man identified as Weikang Xu, a chinese casino junket operator staying as a guest at the Solaire Resort and Casino.

Another $21 million was transferred to a local gaming company, Eastern Hawaii Leisure Company Limited, run by Wong.

"Wong knew or should have known that the funds that were remitted/transferred... were part of the stolen funds from Bangladesh Bank, and are therefore proceeds of an unlawful activity," the complaint read.

Maia Deguito, a branch manager of the RCBC bank which allegedly opened four bank accounts under fictitious names as part of the scheme was also summoned to answer questions ahead of possible charges against her as well.

Anti-money laundering