The Court of Appeals (CA) upheld the conviction of former Rizal Commercial Banking Corporation (RCBC) Maia Santos-Deguito of eight counts of money laundering or violation of section 4 of Republic Act No. 9160, as amended.
In its ruling, the appellate court explained money laundering was committed in the case through facilitation under section 4 in relation to section 4 of the anti-money laundering act.
“Such argument fails to convince considering that Deguito was the Business Manager of RCBC Jupiter, and not just a mere employee. It was actually the opening of the Jupiter Accounts that set the wheels in motion,” the CA said. The CA also noted that aside from opening the banks accounts, Deguito also performed “significant acts,” which included movement of funds from the hacking of the Bangladesh bank.
Deguito-Santos was implicated in the $81-million heist after the stolen funds were found to have ended up in the Philippines. The Bangladesh Bank, the central bank of Bangladesh itself, was hacked and the money collected was converted to Philippine pesos and distributed to junket operators and casinos. Philrem Service Corporation
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