Philippines Senate hopes to start returning stolen Bangladesh Bank funds by June 30

The country's Senate chief said they hope to start the handover process by June 30.

Its Anti-Money Laundering Council (AMLC) on Apr 18 filed a civil forfeiture petition in court against businessman Kam Sin Wong alias Kim Wong,  his company East Hawaii Leisure, Centurytext Trading owned by Chinese businessman William Go, Rizal Commercial Banking Corp. (RCBC) and Philippine National Bank (PNB), reports the Inquirer.

The chief of the country’s Senate, which is holding a hearing over the stolen $81 million, said that they hope to start the process of handing over the recovered money to Bangladesh by June 30.

“That would be our national deadline. Before President Aquino returns to private life, we must see to it that all the recoverable money from that heist has been returned to its rightful owner,” the Inquirer report quoted a statement by Senate President Pro Tempore Ralph Recto.

President Aquino is stepping down on June 30.

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