Category TD Bank

TD Bank recants testimony, fires law firm, and US judge eyes punishment in historic AML-fraud civil case

By ACFCS Staff The landmark case that produced the first civil verdict against a bank for “aiding and abetting fraud” by means of its collusion with a customer and assistance in laundering the fraud proceeds has taken another startling turn. TD Bank, which recently suffered a $67 million adverse jury verdict in January to Coquina […]

TD Bank says “copying error” caused altered document in fraud-money laundering case; but victim says that’s nonsense

By ACFCS Staff The case in which TD Bank has already lost a precedent-setting verdict for “aiding and abetting fraud” arising from collusion with one of its customers to defraud numerous persons and to launder the proceeds has taken an ugly turn. A 70-day trial that ended in January produced a $67 million victory for […]

TD Bank, lawyers accused of “fraud on court” for presenting false “Customer Due Diligence Form” in seminal AML civil case

By Brian Kindle TD Bank, one of the world’s largest financial institutions, is facing what may be the most explosive and damaging risk it has ever confronted. In a federal district court in Miami, it was accused this week of “working a fraud on the court and the jury” by doctoring a crucial document it […]

TD Bank Loses Bid to End Stanford Investments Lawsuit

By Joe Schneider Toronto-Dominion Bank Canada’s second-biggest bank by assets, must face a lawsuit accusing it of negligence for accepting deposits for the Antigua-based bank run by alleged Ponzi scheme operator R. Allen Stanford. Investors in Alberta and Quebec claim in the suit that they lost C$17 million ($16.1 million) when Stanford International Bank Ltd. […]

Toronto-Dominion Sued Over Stanford Investments

By Joe Schneider Toronto-Dominion Bank, Canada’s second-biggest bank, was accused in a lawsuit of negligence and knowing assistance for allegedly helping R. Allen Stanford, who is accused of swindling investors of more than $7 billion, the National Post reported. The lawsuit, filed in Ontario Superior Court Aug. 26 by Bennett Jones LLP, seeks C$17 million […]

Stanford Victims file Class Action Suit against Trustmark National Bank, HSBC Bank PLC, The Toronto-Dominion Bank, SG Private Banking (SUISSE) S.A., and Bank of Houston TX

By Peter Morgenstern Victims of Stanford International Bank, Ltd., part of R. Allen Stanford’s Stanford Finanical Group, filed a class action lawsuit in Texas state court in Houston on August 23, alleging that Trustmark National Bank, HSBC Bank PLC, The Toronto-Dominion Bank, SG Private Banking (Suisse) S.A., and Bank of Houston “provided essential assistance to […]

Texas Department of Banking

Texas Banking Commissioner And Antigua & Barbuda International Financial Sector Regulatory Authority Sign Agreement On Information Sharing. The Texas Banking Commissioner and the Antigua & Barbuda International Financial Sector Regulatory Authority announce the signing of an Agreement on Information Sharing between the two financial institution supervisory authorities. The agreement provides for information sharing and efficient […]

Indictment vs. Robert Allen Stanford

U.S. Department of Justice Conspiracy to Commit Mail, Wire and Securities Fraud (Violation of 18 U.S.C. § 371) Stanford Financial Group (SFG) was the parent company of Stanford Internatioon Bank, Ltd. and a web of other affiliated financial services entities, including Stanford Group Company. SFG maintained offices in several locations, including Houston, Texas, Memphis, Tennessee, […]