TD Bank Found Guilty of Mass Fraud ...


wizard
#1
... a florida court has convicted td bank of conspiring with a lawyer to commit mass theft amounting to over a billion dollars. story HERE (external - login to view) ...

... td is one of the banks that the harper government has openly bragged about being the best in the world. sounds pretty corrupt to me ...
Last edited by wizard; Jan 18th, 2012 at 06:39 PM..
 
lone wolf
+2
#2
Sorry, but when the opening paragraph reads:
Quote:

MIAMI - A U.S. jury decided Wednesday that Toronto-based TD Bank owes an investment group $67 million for its role in a $1.2 billion Ponzi scheme that was operated by a now disbarred attorney, Scott Rothstein.

it tends to belie your claim of "mass theft amounting to billions and billions of dollars"
 
wizard
#3
Quote: Originally Posted by lone wolfView Post

Sorry, but when the opening paragraph reads: it tends to belie your claim of "mass theft amounting to billions and billions of dollars"

... oh it's not my claim, it was reported on the news. it didn't happen?
 
L Gilbert
+2
#4
Quote: Originally Posted by wizardView Post

... a florida court has convicted td bank of conspiring with a lawyer to commit mass theft amounting to billions and billions of dollars. story HERE (external - login to view) ...

... td is one of the banks that the harper government has openly bragged about being the best in the world. sounds pretty corrupt to me ...

"operated by a now disbarred attorney, Scott Rothstein."
"Testimony and court documents show that Rothstein used an account at a TD Bank branch as an integral part of the scheme. Conspirators in his scheme allegedly posed as TD Bank employees, and one of Rothstein's associates devised a fake TD Bank website on which fake account balances were posted for investors."

TD was integral to the scheme? Well, yeah. Sounds like it was a victim of the scam as much as others were victims, to me.

I can see appeals coming.
 
lone wolf
#5
Oops.... Edit doesn't work so well if what you originally posted is copied, eh?
 
wizard
#6
Quote: Originally Posted by L GilbertView Post

"Testimony and court documents show that Rothstein used an account at a TD Bank branch as an integral part of the scheme."

TD was integral to the scheme? Well, yeah. Sounds like it was a victim of the scam as much as others were victims, to me.

I can see appeals coming.

... td bank was the victim? not if the lawyer was using td bank to commit the fraud. it's just not credible to say that td bank didn't know it was being used to commit a scam amounting to over a billion dollars ...
 
SLM
+2
#7
Quote: Originally Posted by L GilbertView Post

"operated by a now disbarred attorney, Scott Rothstein."
"Testimony and court documents show that Rothstein used an account at a TD Bank branch as an integral part of the scheme. Conspirators in his scheme allegedly posed as TD Bank employees, and one of Rothstein's associates devised a fake TD Bank website on which fake account balances were posted for investors."

TD was integral to the scheme? Well, yeah. Sounds like it was a victim of the scam as much as others were victims, to me.

I can see appeals coming.

This is the part that I loved.

Quote:

Rothstein, however, insisted during the 10-day deposition that his only hope of eventual freedom was to tell the full truth.
"I would be a fool to lie," he said, according to testimony transcripts.

A man convicted of fraud would never lie, right? Lol.

The only part to me that looks like TD may have had some involvement is the former CEO or whatever, whom Rothstein claims to have paid off. But nothing in the article about the money trail or evidence of the payoff. Just a he said, he said.

Still a jury did find some liability, doesn't mean the entire operation is fraudulent though.

Quote: Originally Posted by lone wolfView Post

Sorry, but when the opening paragraph reads: it tends to belie your claim of "mass theft amounting to billions and billions of dollars"

C'mon, $67 million/billions and billions. Potato/tomato. Don't get so hung up on semantics man.
 
DaSleeper
+3
#8  Top Rated Post
Somebody's off his meds again
 
lone wolf
#9
They turn you down for a loan?
 
wizard
#10
Quote: Originally Posted by lone wolfView Post

They turn you down for a loan?

... been defrauded by td a few times. won't go near 'em ...
 
L Gilbert
+2
#11
Quote: Originally Posted by wizardView Post

... td bank was the victim? not if the lawyer was using td bank to commit the fraud. it's just not credible to say that td bank didn't know it was being used to commit a scam amounting to over a billion dollars ...

lmao
You scam someone into lending you their tools and then you go rob a jewelry store with those tools, it isn't the person that you borrowed the tools from that should be doing the Jailhouse Rock.

Quote: Originally Posted by SLMView Post

This is the part that I loved.



A man convicted of fraud would never lie, right? Lol.

Of course not.

Quote:

The only part to me that looks like TD may have had some involvement is the former CEO or whatever, whom Rothstein claims to have paid off. But nothing in the article about the money trail or evidence of the payoff. Just a he said, he said.

Still a jury did find some liability, doesn't mean the entire operation is fraudulent though.

O'd like to see more of the Miami fed court proceedings, for sure. lol



Quote:

C'mon, $67 million/billions and billions. Potato/tomato. Don't get so hung up on semantics man.

lol
 
wizard
#12
Quote: Originally Posted by L GilbertView Post

lmao
You scam someone into lending you their tools and then you go rob a jewelry store with those tools, it isn't the person that you borrowed the tools from that should be doing the Jailhouse Rock.

... td bank was clearly participating in the laundering of the proceeds of the lawyer's criminal theft in this case. in some countries money laundering is illegal ...
 
L Gilbert
+1
#13
Quote: Originally Posted by wizardView Post

... been defrauded by td a few times. won't go near 'em ...

better head for Miami and lodge a complaint with the feds then.
 
wizard
#14
Quote: Originally Posted by L GilbertView Post

better head for Miami and lodge a complaint with the feds then.

... yeah, 'cause you won't ever see the canadian government taking action against 'em ...
 
SLM
#15
Quote: Originally Posted by L GilbertView Post

lmao
You scam someone into lending you their tools and then you go rob a jewelry store with those tools, it isn't the person that you borrowed the tools from that should be doing the Jailhouse Rock.

Great! Now I'll have Elvis in my head all evening, thank you very much!

Quote:

O'd like to see more of the Miami fed court proceedings, for sure. lol

So would I, I'd like to see what politicians he's bribed too. Apparently there were "lots" of them.

Joking aside, I trust the big banks about as far as I can throw them. Just the legit bank fees alone are frigging criminal!
 
L Gilbert
#16
Quote: Originally Posted by wizardView Post

... td bank was clearly participating in the laundering of the proceeds of the lawyer's criminal theft in this case. in some countries money laundering is illegal ...

Look, dingbat, banks are just as prone to scams as people are. Especially by sleazy lawyers. Explain how the bank would know it's taking part in the laundering if the lawyer had conned the bank.

Sounds to me if anything, the bank had been lax in its duties. That means that it didn't take an active part in the scam.
"The Coquina trial focused on a bank’s responsibility to know its customers and to detect fraud under the Bank Secrecy Act and its anti-money-laundering provisions.
“I think we were all surprised at how much they let go. At any point, they [TD Bank executives] could have stopped it,” said the jury foreperson, who asked not to be identified." Jury returns $67M verdict against TD Bank in Rothstein-related case - South Florida Business Journal (external - login to view)

Quote: Originally Posted by wizardView Post

... yeah, 'cause you won't ever see the canadian government taking action against 'em ...

lol You're joking, right? The TD is immensely richer than the Canadian gov't.

Quote: Originally Posted by SLMView Post

Great! Now I'll have Elvis in my head all evening, thank you very much!

Sorry. lol



Quote:

So would I, I'd like to see what politicians he's bribed too. Apparently there were "lots" of them.

Joking aside, I trust the big banks about as far as I can throw them. Just the legit bank fees alone are frigging criminal!

I have no love for banks either but I hate lawyers more, even if they are a goofy bunch that work for that other place's fed. lol
 
wizard
#17
Quote: Originally Posted by L GilbertView Post

Look, dingbat, banks are just as prone to scams as people are. Especially by sleazy lawyers. Explain how the bank would know it's taking part in the laundering if the lawyer had conned the bank.

... i'm not a dingbat ...

... and, yes, banks DO partake in criminal activity and td bank DID get convicted in this case. in this ecomony banks will do anything to make cash, including engaging in criminal activity such as theft and money laundering, which is what this story is all about ...
 
SLM
#18
Quote: Originally Posted by L GilbertView Post

I have no love for banks either but I hate lawyers more, even if they are a goofy bunch that work for that other place's fed. lol

Lawyers, bankers, politicians, they all have their own special circle of hell right? Or did Dante leave em out? (Maybe he was afraid he wouldn't get his loan!)
 
taxslave
+1
#19
Yes you are a dingbat and a jury decision in a civil trial is not really worth the newsprint you got this from.
 
L Gilbert
+1
#20
Quote: Originally Posted by wizardView Post

... i'm not a dingbat ...

You're not very good at convincing people of that.

Quote:

... and, yes, banks DO partake in criminal activity and td bank DID get convicted in this case. in this ecomony banks will do anything to make cash, including engaging in criminal activity such as theft and money laundering, which is what this story is all about ...

Get real. Banks in Canada don't need to resort to criminal activity to make money. It's rolling in by the billion.

Bank profits in 2010:
BMO - $2.81 billion (up 36% from 2009)
CIBC - $3.25 billion (up 13% from 2009)
National Bank - $1.03 billion (up 21% from 2009)
Royal - $5.22 billion (up 35% from 2009)
Scotia - $4.24 billion (up 20% from 2009)
TD Canada Trust - $4.6 billion (up 49% from 2009)

2011: Big banks made $22.4B in 2011 - Business - CBC News


I bet after this all blows over and the board at TD assesses things and if it finds out there were employees fudging things, we'll see heads rolling in the FL TD bank.

Quote: Originally Posted by SLMView Post

Lawyers, bankers, politicians, they all have their own special circle of hell right? Or did Dante leave em out? (Maybe he was afraid he wouldn't get his loan!)

lol
Bankers would be in the 4th and maybe the 8th of Dantes circles. Lawyers would be in the 7th and 8th.
 
lone wolf
#21
I'd say with all the slamming and libel, you might want to watch out for some more persecution ... and if they call up your fantasies from here, the judge will laugh in your face.

Google search is sooo easy
 
JLM
#22
Quote: Originally Posted by wizardView Post

... a florida court has convicted td bank of conspiring with a lawyer to commit mass theft amounting to over a billion dollars. story HERE (external - login to view) ...

... td is one of the banks that the harper government has openly bragged about being the best in the world. sounds pretty corrupt to me ...

Check further, it smell like a bit of bullsh&t.

Quote: Originally Posted by taxslaveView Post

Yes you are a dingbat

Of the first water!
 
damngrumpy
+1
#23
It would seem to me to be the employees who participated in the scheme that should
be held accountable not the entire bank. That makes no sense at all. I don't like TD
never did but this is a case that they should not be paying for the sins of others.
The problem is the US is a sue me happy nation and the judges and the lawyers and
the juries all enjoy the ride like some Gerry Springer show its a constant.
 
SLM
+1
#24
Quote: Originally Posted by taxslaveView Post

Yes you are a dingbat and a jury decision in a civil trial is not really worth the newsprint you got this from.

Like Edith Bunker???? I like Edith Bunker, let's not be dragging her into this.
 
L Gilbert
#25
Quote: Originally Posted by damngrumpyView Post

It would seem to me to be the employees who participated in the scheme that should
be held accountable not the entire bank. That makes no sense at all. I don't like TD
never did but this is a case that they should not be paying for the sins of others.
The problem is the US is a sue me happy nation and the judges and the lawyers and
the juries all enjoy the ride like some Gerry Springer show its a constant.

That's my impression, too.
 
BruSan
#26
Gotta love it; Floridians where I'm wintering here in Florida are flocking to the TD bank BECAUSE they're fed up with B of A, Whackovia' Wells Fargo and other U.S. banks either charging them exorbitant fees, getting bail-outs or going broke. "They're just more trustworthy" is the mantra I'm hearing.
 
JLM
#27
Quote: Originally Posted by damngrumpyView Post

It would seem to me to be the employees who participated in the scheme that should
be held accountable not the entire bank. That makes no sense at all. I don't like TD
never did but this is a case that they should not be paying for the sins of others.
The problem is the US is a sue me happy nation and the judges and the lawyers and
the juries all enjoy the ride like some Gerry Springer show its a constant.

Isn't the source the guy who hates every cop in Canada?
 
Retired_Can_Soldier
#28
Quote: Originally Posted by wizardView Post

... been defrauded by td a few times. won't go near 'em ...

Wizard is everyone out to get you? Cops, ICBC and now the TD?
 
JLM
#29
Quote: Originally Posted by Retired_Can_SoldierView Post

Wizard is everyone out to get you? Cops, ICBC and now the TD?

Maybe the boys with the butterfly nets should "get him"!
 
lone wolf
#30
Quote: Originally Posted by JLMView Post

Maybe the boys with the butterfly nets should "get him"!

Before the under-the-bed dust bunnies attack
 

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