The Anti-Money Laundering Council (AMLC) of Philippines hopes to return to Bangladesh the $81 million stolen from reserve account of Bangladesh Bank (BB) in three months, reports interaksyon.com.
“I hope it will only take within three months, (but) I am not so sure if it will take three months,” AMLC director general Julia Bacay-Abad said in an interview.
Erlier, she confirmed that the Manila Regional Trial Court had issued a Provisional Assets Preservation Order, or PAPO, on the frozen funds as well as the $4.63 million earlier turned over by casino junket operator Kim Wong.
“That (PAPO) covers the money that was turned over to AMLC for safekeeping (by Wong), including the money frozen by the AMLC by virtue of the freeze order from the Court of Appeals on March 1,” Abad said.
“The PAPO is good for 20 days (and) during that 20-day effectivity, the court will set the date of the summary hearing and to determine (whether) an Asset Preservation Order” should be issued, she explained.
She said that after three months, all the money subjected to the forfeiture proceedings filed by the AMLC can be returned immediately to the Bangladeshi government, provided no opposition is filed before the court.
“I hope it will take (only) that long (three months) because we don’t expect any opposition from any party. So if there is no opposition, the court will allow AMLC to present evidence ex-parte that will make the proceeding expeditious,” Abad said.
The rules covering forfeiture proceedings, she said, allow any person or party — in this case, the Bangladeshi government — with a claim over a forfeited amount to file a verified petition with the same court that ordered the forfeiture.
“So, in other words, the Bangladesh government, which has a claim on the forfeited money, should file a verified petition with the court,” Abad said. “Then the court will issue another order to return the money to the claimant.”
“With the assistance of the Solicitor General, we filed the proceedings last Friday,” she added.
Source: Dhaka Tribune
