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$4.3B Now Recovered For Madoff Ponzi Scheme Victims, DOJ Says $4.3B Now Recovered For Madoff Ponzi Scheme Victims, DOJ Says
$4.3B Now Recovered For Madoff Ponzi Scheme Victims, DOJ Says More than $4.3 billion has now been recovered for victims of Bernie Madoff’s massive and infamous Ponzi scheme, the Justice Department announced, as part of a decade-long effort that has compensated over 40,000 people worldwide for nearly 94 percent of their losses. The DOJ says  its 10th and final distribution from the Madoff Victim Fund (MVF), provided more than $131 million to over 23,000 victims. The latest distribution marks the culmination of a decade-long effort to recover and return forfeited funds tied to Madoff's fraudulent investment empire. Most victims, primarily small inv…

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by Joe Lombardi
Business
NJ-Based TD Bank Fined $3B For Allowing Drug Dealers, Human Traffickers To Launder Money: Feds NJ-Based TD Bank Fined $3B For Allowing Drug Dealers, Human Traffickers To Launder Money: Feds
Nj-based TD Bank Fined $3B For Allowing Drug Dealers, Human Traffickers To Launder Money: Feds TD Bank has agreed to pay about $3 billion in historic penalties after its relaxed policies allowed criminals to launder their money, authorities said. The Canadian bank with U.S. headquarters in Cherry Hill pleaded guilty to charges of conspiring to not maintain an anti-money laundering program that complies with the Bank Secrecy Act, filing inaccurate currency transaction reports, and laundering money, the Justice Department said in a news release on Thursday, Oct. 10. TD Bank will pay more than $1.8 billion to resolve the DOJ's investigation and $1.3 billion in a penalty f…

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by Chris Spiker