WHILE senators commended casino junket operator Kim Wong for voluntary surrendering some of the proceeds of the $81-million cyberheist of the funds of the Bangladesh Bank, he still cannot escape liability.
“Once a criminal case like robbery, estafa or money laundering had been committed, the return of the money would not eradicate the crime so [the perpetrator] would not be absolved,” said Senator Koko Pimentel, who conceded that Wong’s act also helped Bangladesh cut its losses.
Senator Bam Aquino agreed that the action of Wong will not absolve him as the investigation by the authorities is ongoing and the true picture of what happened is still unclear to the public.
“In the previous hearing, we know that he received much more than that. In fact, I am hoping that all institutions that received the illegally acquired funds will return it at the soonest possible time,” Aquino said.
“We should insist that the other junket operators, casinos and other institutions return the money that were coursed through them, in good faith, and because it is the right thing to do,” he further said.
Senator Ralph Recto, on the other hand, hoped Wong’s act would spur others to follow suit.
“That is $4.6 million down. $30.26 million more to go. It’s a good example for others to follow,” Recto said.
Recto expressed optimism that Wong’s act will pave the way for the recovery of other accounts where the loot was diverted into.
Recto said as much as $34.86 million—almost half of the sum stolen—could be recovered from local corporations, based on testimonies made in three hearings conducted by the Senate Blue Ribbon Committee.
“The hunt for recoverable fruits of the Bangladesh cyberheist is gaining ground. The return of $4.6 million is a good start that augurs well in our quest to return the stolen money to its rightful owner, the Bangladesh people,” he said.
The senator appealed to owners of Philrem Corp. to follow Wong’s lead and voluntarily surrender whatever portion of the loot is left under their control.
“Perhaps, Philrem would follow and return money to AMLC. All that should be returned should be given back to Bangladesh,” said Rectom adding that other corporations, including local banks and financial houses, must follow Kim Wong’s lead.
“If Kim Wong who has smaller resources returned (the laundered money)m the others should follow,” said Recto.