Tag Archives: Miami

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 […]

Miami’s ex-DEA chief could escape charge in Allen Stanford case

By Rob Barry and Michael Sallah In a blow to prosecutors, a federal judge Monday called for the dismissal of an obstruction charge against Miami’s former DEA chief in the Allen Stanford bank fraud case. Two months after one of Miami’s most celebrated drug cops was charged in the Allen Stanford financial scandal, a federal […]

Florida banking agency helped Stanford set up unregulated office to sell his CDs

Florida regulators – over objections by the state’s top banking lawyer – gave sweeping powers to banker Allen Stanford, accused of swindling investors of $7 billion. Years before his banking empire was shut down in a massive fraud case, Allen Stanford swept into Florida with a bold plan: entice Latin Americans to pour millions into […]

R. Allen Stanford and Miami-based Greenberg Traurig

Miami Herald runs an excellent story on R. Allen Stanford (charged with multi-billion fraud) and a new angle: the stage was set for Stanford’s multi-billion fraud in 1998, the year Stanford persuaded Florida banking regulators to grant his company special rights to open a Miami office outside the scrutiny of federal banking regulators. In this […]