Source: Fox News
“TD Bank is the 10th-largest bank in the country – but for a while was the No. 1 choice for criminal organizations laundering drug money, according to federal prosecutors. The bank’s $3 billion plea deal shocked the finance world but prompted a U.S. senator to slam the Justice Department for ‘absurd legal gymnastics’ that she says were too soft on executives. For years, the bank prioritized growing its profits without investing in mandatory precautions to prevent cartels and other organized crime groups from using its systems to launder money, allowing crooks to shuffle $671 million in secretive transfers that should have been flagged and reported to authorities – sometimes with the help of corrupt bank employees, according to the plea agreement. ‘By making its services convenient for criminals, TD Bank became one,’ Attorney General Merrick Garland told reporters in October, announcing the bank’s guilty plea.” (11/26/24)