How $81 Million Slipped Through Philippine Cracks: Timeline

Rizal Commercial Banking Corporation Branch Manager Maia Santos Deguito receives advice from her lawyers during the Senate hearing on March 15.

Photographer: Mark R. Cristino/EPA

Philippine lawmakers last week started a hearing on how $81 million of funds stolen from Bangladesh’s foreign reserves ended up in the Southeast Asian nation’s financial system. Senator Teofisto Guingona, who’s leading the investigation, said the heist could threaten the wider financial sector in the Philippines and put the country’s credit rating at risk.

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