BB Reserve Heist: Criminals from 6 nations involved

Criminals from at least six countries, including Bangladesh, have been found involved in the $81-million heist from Bangladesh Bank reserves with the New York Fed five years ago.

Several high officials of the Criminal Investigation Department of Bangladesh Police have disclosed the findings to The Daily Star after five years of investigation into the heist.

A case filed by the BB over recovery of the stolen money is now pending with the Southern District Court in New York. Once that case in the US is settled, the charge sheet in the case in Bangladesh over the biggest-ever cyber heist in history would be submitted, said CID officials.

Confirming the development, CID chief Mahbubur Rahman, additional inspector general of police, yesterday said the probe into the BB reserve theft case was at the final stage. But the lawsuit over recovery of the stolen money was still pending with the US court.

"We have engaged a law firm in the US. We met officials of the firm and discussed the case with them a few days ago," the CID chief told this correspondent.

"They [the officials of the law firm] said it would not take too long, and that the case should be disposed of quickly… We are now waiting for settlement of the case.

"We will submit our charge sheet as soon as the case at the US court is settled."

About the wait for the US court verdict, Mahbub said, "We seek to protect the interest of our people and the country. It is our people's money."

After discussions with the law firm and Bangladesh's panel of lawyers in the case, it was decided that if the case in the US was settled first, it will be much easier to bring back the money, he added.

On February 4, 2016, around $81 million was stolen from the BB account with the New York Fed. On March 15 the same year, BB Deputy Director (accounts and budgeting) Zobayer Bin Huda filed a case with the Motijheel Police Station.

CHARGE SHEET

Seeking anonymity, a CID high official involved in the probe said they found that the people who directly took part in the heist are mostly from four countries -- the Philippines, China, Sri Lanka and Japan.

Besides, Bangladeshi and Indian nationals working at financial institutions were involved in the heist. They include Indian nationals, who worked for international payments network SWIFT, and also BB officials, said the CID high-up.

"We have got response from all these foreign countries, except for China. Sri Lanka and Japan have given response through the Interpol's official channel," mentioned the CID official.

On the number of people involved in the heist, Mostofa Kamal, special superintendent of CID's financial crime unit, said the agency has so far identified around 40 people but the number could go up.

Among them, at least 25 are from the Philippines. "We are preparing charge sheet against them," he said.

Asked how the issue would be taken up with the foreign countries whose citizens were involved in the heist, the CID chief said, "These people committed the heist, sitting in different countries. That is why the names of those countries have come up. The states have nothing to do with it."

CID sources said six to seven BB officials would be named in the charge sheet.

Contacted, Sirajul Islam, spokesperson for the BB, said, "The CID is yet to disclose any information to us about BB officials' involvement. How can we comment on the issue at this moment?"

BB CASE IN NEW YORK

On February 1, 2019, the BB filed a case with the Southern District Court of New York against the Philippines' Rizal Commercial Banking Corporation (RCBC) and scores of individuals,including several top executives, for their involvement in a "massive and multi-year conspiracy" to steal its money.

Abu Hena Mohd Razee Hassan, head of Bangladesh Financial Intelligence Unit, told this correspondent yesterday that the court reviewed the case and served summonses on those who took part in the heist from the Philippines.

"It may take one or two more months for the hearing [in the case in the US] to begin. We hope to see the outcome [of the case] soon," he added.