We are troubled by the recently published Litigator of the Week interview that presented an incomplete and inaccurate description of the recent decision of a New York federal court concerning claims by our client, Bangladesh Bank (“Bank”), to recover $81 million stolen from its account at the New York Fed. Bangladesh Bank v. Rizal Commercial Banking Corporation et al., No. 19-cv-983(S.D.N.Y. Mar. 20, 2020).
In the litigation, the Bank alleges that a web of conspiring Philippine defendants—RCBC, underworld figures, casinos, and others—stole the Bank’s funds from New York, relayed them through RCBC’s U.S. correspondent accounts, and placed them in fake RCBC accounts in the Philippines from which they were transferred to casinos and disappeared.
