The New Jersey Attorney General announced Wednesday that a former Florida-based TD Bank employee has been arrested and charged with aiding and abetting money laundering into Colombia. This is the first arrest since the Canadian bank paid a $3 billion fine.
TD Bank's U.S. arm pleaded guilty in October to conspiracy to commit money laundering, becoming the first U.S. bank to do so. The company is also the largest bank to plead guilty to failing US Bank Secrecy Act programs.
Regulators impose hefty fines, asset restrictions and seek government-mandated monitoring equipment for deficiencies in TD's compliance systems that allowed up to $670 million in money to be laundered from drug sales. Ta.
Dozens of people have been arrested or charged in recent years in the United States in connection with money laundering involving TD.
In the latest incident, Leonardo Ayala, 24, who worked at a TD Bank branch in Doral, Florida, from February to November 2023, had dozens of banknotes in an account opened in the name of a shell company. He is charged with issuing debit cards and aiding and abetting a money laundering network. in exchange for bribes, according to court documents.
According to a statement from the New Jersey Attorney General's Office, these accounts were used to launder drug trafficking proceeds through cash withdrawals at ATMs in Colombia.
“The investigation revealed that millions of dollars were laundered into Colombia through accounts serviced by Ayala,” the statement said.
Ayala could not be reached for comment.
“We identified the activity, reported it and worked closely with authorities in their investigation. We will continue to actively support their efforts,” a TD spokesperson said. .
U.S. authorities announced in October that a TD Bank employee received at least $57,000 in gift cards from a criminal who made more than $400 million in transactions through the bank in 2020 and 2021.
In one case, a money laundering network deposited funds in the United States and quickly withdrew them using ATMs in Colombia, ultimately laundering millions of dollars, the Justice Department said in October. Announced.
According to the Department of Justice, five TD employees conspired with the network.
Money laundering conspiracy charges carry a maximum sentence of 20 years in prison and a fine of $500,000 or twice the amount of the crime, whichever is greater.
