TD Bank fined $3B for failing to prevent money laundering by drug cartels
The money was used to pay back Stanford’s victims but the bank denied any wrongdoing
TD Bank was slapped with a whopping $3 billion fine and pleaded guilty Thursday to federal charges of failing to monitor money laundering by drug cartels and other criminal gangs.
The Department of Justice launched a probe in May after learning that drug traffickers funneled hundreds of millions of their ill-gotten gains — much of it from fentanyl-smuggling operations — through TD Bank branches in New York and New Jersey. ---More...