The theft of millions of dollars from a Bangladesh Bank, money that was later laundered through Philippine casinos, is not the responsibility of Bloomberry Resorts & Hotels Inc., a unit of Solaire Resort & Casino operator Bloomberry Resorts Corp.
In 2016, in almost three dozen bogus transactions, almost US$1 billion from Bangladesh Bank’s account was transferred from the Federal Reserve Bank of New York. The bank blocked most of the attempted transfers, but five transactions worth a combined US$101 million were processed, reported Inside Asian Gaming. Of that, Bangladesh Bank recouped just US$20 million. The remainder was sent to Rizal Commercial Banking Corp. in the Philippines was transacted and lost, partially through casinos including Solaire where some of the funds were used to purchase gaming chips and play in junket rooms.
Bangladesh Bank subsequently launched RICO claims against multiple defendants to recoup its losses, but the U.S. District Court in Southern New York dismissed the claim.
