BY PAUL O’DONOGHUE, Senior Correspondent
A FORMER TD Bank employee in the U.S. has been arrested and charged with conspiracy to commit money laundering, accused of facilitating the transfer of drug proceeds to Colombia through the financial institution.
Leonardo Ayala, 24, worked at a TD Bank branch in Doral, Florida, from February to November 2023. The U.S. Department of Justice said that Ayala allegedly used his position to support a money laundering operation starting in June 2023.
He is accused of issuing multiple debit cards for accounts opened under shell companies with nominee owners. These accounts were then used to launder millions in narcotics proceeds via ATM withdrawals in Colombia.
Ayala appeared in Miami federal court and faces further proceedings in New Jersey. If convicted, he could receive up to 20 years in prison. Sentencing will depend on U.S. Sentencing Guidelines and other legal considerations.
Investigators from multiple agencies, including the IRS-CI Newark Field Office and the DEA San Juan Field Office, worked on the case, with additional support from law enforcement in Florida and New Jersey.
The Department of Justice’s Bank Integrity Unit, which focuses on crimes involving financial institutions, is leading the prosecution.
The Department of Justice said that Ayala remains presumed innocent until proven guilty beyond a reasonable doubt in court.
The conviction comes as Canada-based TD Bank has been plagued with a string of AML-related issues stemming from its U.S. arm. This recently led regulators to hitting the company with a $3 billion fine and a U.S. asset cap.
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