New York court supports decision to dismiss case against Bloomberry Resorts in US$81 million hacker case – IAG | #hacking | #cybersecurity | #infosec | #comptia | #pentest | #hacker

The Appellate Division of the New York Supreme Court has upheld a decision by the Supreme Court to dismiss a complaint filed against Bloomberry Resorts Corp, owner and operator of Manila’s Solaire Resort Entertainment City, by Bangladesh Bank in relation to a 2016 hacking case.

According to details filed with the Philippine Stock Exchange on Wednesday, the latest decision was handed down on 20 May in support of the Supreme Court’s decision from April 2022 in which it determined the case did not have jurisdiction.

Bloomberry Resorts Corp subsidiary Bloomberry Resorts and Hotels, Inc.’s (BRHI) had earlier been named alongside Rizal Commercial Banking Corporation and Eastern Hawaii Leisure Company, Ltd, operator of Midas Hotel & Casino in Clark, in the suit, which accused all of conversion, theft and misappropriation; aiding and abetting the same; conspiracy to commit the same; fraud; aiding and abetting and conspiracy to commit fraud; conspiracy to commit trespass against chattels; unjust enrichment; and return of money received.

The case relates to US$81 million that was stolen from Bangladesh Bank by North Korean hackers in 2016 via 35 fraudulent instructions to transfer almost US$1 billion from the bank’s account with the Federal Reserve Bank of New York. The US bank blocked the majority of those but not before five transactions worth a combined US$101 million were processed.

Bangladesh Bank eventually recouped US$20 million traced to Sri Lanka, however US$81 million transferred to the Rizal Commercial Banking Corp (RCBC) in the Philippines was transacted and lost, partially through casinos, including Solaire, where some of the funds were used to purchase gaming chips and play in junket rooms.

Bangladesh Bank has been looking to recoup at least some of the stolen funds ever since.

Bloomberry said Wednesday that the Appellate Division of the New York Supreme Court had upheld the order of the Supreme Court to dismiss the complaint filed by Bangladesh Bank for lack of jurisdiction.


Click Here For The Original Story From This Source.

How can I help you?
National Cyber Security