TD Bank Found Guilty of Mass Fraud ...
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Sorry, but when the opening paragraph reads:
it tends to belie your claim of "mass theft amounting to billions and billions of dollars"
"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.
... 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 ...
This is the part that I loved.
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.
C'mon, $67 million/billions and billions. Potato/tomato. Don't get so hung up on semantics man.
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.
Of course not.
O'd like to see more of the Miami fed court proceedings, for sure. lol
lolC'mon, $67 million/billions and billions. Potato/tomato. Don't get so hung up on semantics man.
... 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 ...
... yeah, 'cause you won't ever see the canadian government taking action against 'em ...
Great! Now I'll have Elvis in my head all evening, thank you very much!
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!
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
lol You're joking, right? The TD is immensely richer than the Canadian gov't.
Sorry. lolGreat! Now I'll have Elvis in my head all evening, thank you very much!
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
... 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 ...
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!)
Yes you are a dingbat and a jury decision in a civil trial is not really worth the newsprint you got this from.
You're not very good at convincing people of that.
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.
lol
Bankers would be in the 4th and maybe the 8th of Dantes circles. Lawyers would be in the 7th and 8th.