The New York Supreme Court has denied Yuchengco-led Rizal Commercial Banking Corp.’s (RCBC’s) motion to transfer the nearly decade-old $81 million Bangladesh cyber heist case to a more convenient jurisdiction.
In a stock exchange filing on Friday, RCBC suffered another setback in the said cyberheist case since the case hearings will continue in New York.
The New York court informed the Yuchengco-led bank following the close of business hours the previous day.
Bangladesh Bank sued RCBC and its officers as well as other parties at the Supreme Court of New York on May 27, 2020.
Charges included aiding theft, theft, conspiracy, conspiracy to commit trespass, fraud, return of stolen money, and unjust enrichment.
Bangladesh Bank filed lawsuits to get back $81 million that purportedly North Korean hackers stole in 2016. Part of the money was sent to bogus accounts at RCBC after wiring the funds via banks in New York. (TCSP)
