TD Bank to pay US$1.2 billion to settle Stanford Ponzi scheme lawsuit

TD Bank Settles Ponzi Scheme Lawsuit for $1.2 Billion

The lawsuit accused the bank of ignoring red flags for years.

TD Bank reaches $1.2 billion settlement in Ponzi scheme lawsuit

By Ramishah Maruf, CNN TD Bank will pay $1.2 billion to settle a lawsuit alleging its involvement in an infamous $7 billion Ponzi scheme orchestrated by disgraced financier Allen Stanford more than a decade ago. Toronto-Dominion Bank agreed to pay $1.205 billion to a court-appointed receiver who will in turn pay back victims of the scheme but denied any wrongdoing, the bank said in a statement Monday Stanford was sentenced to 110 years in prison…

TD Bank settles $7 billion Ponzi scheme lawsuits for $1.2B

The $1.205 billion will be paid to a court-appointed receiver, who will use it to reimburse victims of the mega-swindle by previously high-rolling Texas billionaire Allen Stanford.

TD Bank reaches $1.2 billion settlement in Ponzi scheme lawsuit

(CNN) — TD Bank will pay $1.2 billion to settle a lawsuit alleging its involvement in an infamous $7 billion Ponzi scheme orchestrated by disgraced...

TD Bank to pay $1.2 billion to settle lawsuit tied to Allen Stanford Ponzi scheme

Toronto-Dominion Bank has agreed to pay out US$1.205 billion to the courts to settle claims it was facing in connection to the Allen Stanford Ponzi ...

TD Bank agrees to over $1B settlement for its role in $7B Texas Ponzi scheme

On Monday, a settlement was announced by TD Bank Group regarding the bank’s alleged role in former Texas financier Allen Stanford’s $7.2 billion Ponzi scheme. The bank will now pay $1.21 billion, as per the stipulations of the settlement.