Column: A huge bank pleaded guilty to conspiring to launder money, so why weren't top executives charged?
Opinion by Michael Hiltzik • 3h
By any measure, the lawbreaking by the U.S. subsidiary of Canada's Toronto-Dominion Bank was spectacular.
The bank, which goes by the name TD Bank in the U.S., facilitated the laundering of more than a half-billion dollars by human traffickers, fentanyl dealers, a major Ponzi schemer and others. It failed to file legally mandated reports of suspicious transactions even though one of the launderers had deposited and withdrawn "more than $1 million in cash in a single day."
All this was laid out in settlements with the Department of Justice and the Treasury Department's Financial Crimes Enforcement Network, or FinCEN, announced on Oct. 10. The settlement will cost TD Bank more than $3 billion in penalties and includes a guilty plea to a count of conspiring to violate anti-money-laundering laws. The settlement notes sourly that the bank's cooperation with authorities was "limited."
https://www.msn.com/en-us/money/companies/column-a-huge-bank-pleaded-guilty-to-conspiring-to-launder-money-so-why-weren-t-top-executives-charged/ar-AA1txmjZ?ocid=msedgdhp&pc=HCTS&cvid=232f722f421f4d20852ba0bbf8dccbca&ei=89
