Former TD Bank Employee Charged in Colombia Money Laundering Scheme
A former TD Bank (TSX: TD) employee was arrested on money laundering charges for allegedly helping funnel millions of dollars in drug proceeds to Colombia through a network of shell company accounts, U.S. prosecutors said on Tuesday.
Leonardo Ayala, 24, who worked at TD Bank’s Doral, Florida branch, is accused of issuing multiple debit cards for fraudulent accounts in exchange for bribes between June and November 2023. The cards were then used to withdraw narcotics proceeds from Colombian ATMs, according to court documents.
Prosecutors allege another TD Bank employee opened accounts using shell companies with nominee owners to facilitate the scheme.
Ayala appeared in Miami federal court on Tuesday but will face proceedings in New Jersey. He is charged with one count of conspiracy to commit money laundering, which carries a maximum 20-year prison sentence.
The case is being investigated by the IRS Criminal Investigation division, Drug Enforcement Administration, and Federal Deposit Insurance Corporation’s inspector general office.
The Justice Department’s Bank Integrity Unit, which prosecutes cases involving threats to financial institutions and the broader banking system, is handling the prosecution alongside the U.S. Attorney’s Office in New Jersey
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