New York court dismisses Bangladesh’s reserve theft case

A lawsuit filed at a New York court seeking the recovery of a portion of the money that was stolen from the reserve of Bangladesh Bank has been dismissed. The Supreme Court of New York dismissed the case in a verdict citing “out of jurisdiction” on 8 April.

Philippine based media outlet inquirer.net revealed this information in a report published on Tuesday. The report says the Solari Resort and Casino of Philippine and Bloomberry Resorts, the mother company of Manila Bay, have confirmed the dismissal of the case. However, other sources could not provide any details in this regard immediately.

On the night of 4 February 2016, a total of US$ 81 million was stolen from the reserve of Bangladesh Bank. The reserve was kept in the Federal Reserve Bank of New York in the US. The money was promptly withdrawn after it was transferred to the Rizal Bank (RCBC) of Philippine.

The Bangladesh Bank filed a lawsuit at a New York court to recover the money three years ago. After the theft, a total of US$ 15 million has been recovered at different times so far.

The Criminal Investigation Department (CID) has been investigating the case in the country. However, they are yet to submit the probe report.