The U.S. Division of Justice says a former TD Financial institution Group worker has been arrested and charged for allegedly facilitating cash laundering on the financial institution.
The arrest is the most recent improvement in an investigation into cash laundering on the financial institution that led to greater than $3 billion US in fines towards TD in a settlement introduced in October.
The U.S. Justice Division says the 24-year-old former worker arrested Tuesday had labored at a TD Financial institution location in Doral, Fla., the place, beginning in June 2023, he allegedly assisted a cash laundering community by issuing dozens of debit playing cards for shell corporations in change for bribes.
It says the accounts have been allegedly used to launder tens of millions of {dollars} in drug proceeds by money withdrawals at ATMs in Colombia.
In an announcement, TD says it recognized the exercise, reported it and co-operated with authorities of their investigation, and that it continues to assist their efforts.
The U.S. Division of Justice mentioned in October that it had already charged two TD insiders associated to cash laundering and that a part of TD’s plea settlement requires it to co-operate with ongoing investigations of people.
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