Former TD Bank Employee Charged with Money Laundering Conspiracy in Drug Proceeds Case

A former employee of TD Bank in the U.S. has been arrested and charged with conspiracy to commit money laundering, accused of facilitating the transfer of narcotics proceeds to Colombia through the bank.

Leonardo Ayala, 24, worked at a TD Bank branch in Doral, Florida, from February to November 2023. According to the U.S. Department of Justice, Ayala allegedly began using his position in June 2023 to support a money laundering operation.

Prosecutors claim Ayala issued multiple debit cards for accounts that were opened under shell companies with nominee owners. These accounts were allegedly utilized to launder millions of dollars in drug proceeds, which were ultimately transferred to Colombia via ATM withdrawals.

Ayala has already made an appearance in federal court in Miami, with further legal proceedings to take place in New Jersey. If convicted, Ayala could face up to 20 years in prison. His sentencing will be determined by U.S. Sentencing Guidelines and other legal factors.

The investigation involved several agencies, including the IRS-CI Newark Field Office and the DEA San Juan Field Office, with additional support from law enforcement agencies in Florida and New Jersey. The Department of Justice’s Bank Integrity Unit, which specializes in crimes involving financial institutions, is leading the prosecution.

The Department of Justice emphasized that Ayala is presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

The arrest comes as TD Bank, headquartered in Canada, continues to face scrutiny over AML-related failures within its U.S. operations. The bank recently faced significant regulatory action, including a $3 billion fine and an asset cap imposed by U.S. authorities.

This case underscores ongoing efforts by law enforcement to combat money laundering schemes that exploit the banking system to move illicit funds across borders.

By fLEXI tEAM