Bangladesh is looking to leverage pressure from a US legal battle to come to an agreement with the Filipino defendants of a case over a central bank cyber-heist to recover the stolen funds, reports bdnews24.com.
A team of lawyers and Bangladesh Bank officials will depart for the Philippines next week as part of the government's continued efforts to recover the stolen reserves, said the central bank's chief counsel Ajmalul Hossain QC.
He too would be part of the team, the lawyer told reporters in Dhaka on Monday.
Their visit to the Philippines will aim to "recover the stolen funds through a settlement after discussion", according to Hossain.
"We are continuing our legal battle. We have started the case in the New York federal court. The case has been set for April 2," he said.
"Before that, we want to discuss the matter with the defendants first. We want to talk so that we can come to a creditable resolution to this matter through an agreement," the lawyer added.
In its suit filed with the US District Court in Manhattan on February 1, Bangladesh Bank accused Manila-based Rizal Commercial Banking Corporation (RCBC) and dozens of others, including several top executives, of involvement in a "massive" and "intricately planned" multi-year conspiracy to steal its money.
The other accused include Philrem Service Corporation, casino owners and beneficiaries, Bangladesh Bank officials said.
The Bangladesh Bank lost $81 million to the heist in February 2016. The funds were transferred to the Philippines and beyond using Philrem and a branch of the RCBC.
"Bangladesh has initiated the discussions. But I have come to know that many of the other side are interested to sit," lawyer Hossain said. He was hopeful that Bangladesh will be able to recover the remainder of the stolen reserve money.
"Let's see whether it happens through legal battle or mediation and settlement," he added.
The Bangladesh team will sit on March 10 to discuss their strategy before leaving for the Philippines, the lawyer said.
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