TD Bank ordered to pay $67M in Florida Ponzi case (Big advertiser in Miami; media tries to ignore)

biz journals ^ | 1/17/12

[Recovering_Democrat]

A jury has ordered TD Bank to pay $67 million after a Miami trial where it was accused of aiding a Ponzi schemer, sister publication the South Florida Business Journal reports here.

Says the SFBJ: “TD Bank [NYSE:TD] spokeswoman Rebecca Acevedo wrote in an email that they are disappointed with the jury’s decision and considering all of their options.”

[Recovering_Democrat]

FYI: The media went ape when Scott Rothstein was caught in this Ponzi scheme. But TD Bank is a MAJOR advertiser in the print and broadcast media in Florida...and so now the "Vulture Media", apparently eager NOT to expose their benefactor, is downplaying the role the bank had in ripping off innocent Americans.

Looks like the media are in bed with the big banks that feed on the carcasses of the American worker.

[Recovering_Democrat]

Florida news....I know the Perry announcement is getting a lot of attention, but this is big too.

[org.whodat]

Strange, I had never heard of TD bank, before now.

[xp38]

That is because it is a Canadian bank with operations in the US but only I would say in fairly recent years. It does not have a long history in the US. It is always referred to as TD in the the US sort of like how Kentucky Fried Chicken is now just called KFC. The TD actually stands for Toronto Dominion.

[liberalh8ter]

I wish the article had actual details of TD’s involvement.

[proxy_user]

Yeah, if they just let him have a checking account, that would not be much. They are supposed to ‘know their customer’, but if nobody knows he’s a crook, how are they supposed to?

[liberalh8ter]

Exactly. This guy was a big deal. He took a lot of that stolen money and donated it to very influential people (as do all successful con artists). He was well known in the community. That makes it “the clueless guy who says his neighbor was a really good guy who would NEVER do anything wrong” x 100!