Tag:

Financial Crime

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…
Five From NJ Admit Pocketing $1.3M In Aircraft Equipment Scam Five From NJ Admit Pocketing $1.3M In Aircraft Equipment Scam
Five From NJ Admit Pocketing $1.3M In Aircraft Equipment Scam A crew of con artists from New Jersey admitted swindling more than $1.3 million from hundreds of businesses nationwide and abroad that thought they were buying specialized aviation equipment. The head of the operation, Antonio P. Signo, 36, of Somerset – aka "Tony Demetro" – had been the first to take a deal from prosecutors rather than face the potential consequences of a trial. The onetime fugitive pleaded guilty last August -- with no public notice from authorities – to a single count of theft by deception, New Jersey Attorney General Matthew J. Platkin revealed on Thursday, May 25. The…
Ex-Hudson Sheriff's Officer Admits $98,000 Short-Sale Mortgage Scheme For Jersey Shore Home Ex-Hudson Sheriff's Officer Admits $98,000 Short-Sale Mortgage Scheme For Jersey Shore Home
Ex-Hudson Sheriff's Officer Admits $98,000 Short-Sale Mortgage Scheme For Jersey Shore Home A former Hudson County sheriff’s officer admitted defrauding a bank to duck $98,000 in mortgage payments on a Jersey Shore home, federal authorities said. Osbado Hernandez, 54, of Avenel, conspired with others to lie about a bogus short sale of his house in Keansburg so that the unidentified bank would discharge what was left on his mortgage, U.S. Attorney Philip R. Sellinger said. Hernandez bought the property for $239,900 in 2006, financing it through a mortgage loan from the victimized bank, a complaint on file in U.S. District Court in Trenton says. He ended up behind on the payments,…