This settlement goals to resolve felony and civil probes into the alleged placement of “lots of of fraudulent spoof orders” involving tens of billions of {dollars} in false provide and demand for US Treasury securities.
A spokesperson for TD didn’t instantly touch upon the matter.
The settlement coincides with further allegations towards TD, which is accused of failing to detect cash laundering and different monetary crimes at a number of US branches. Prosecutors have filed no less than 4 instances associated to those allegations in New York, New Jersey, and Florida.
The Wall Avenue Journal not too long ago reported that the financial institution is approaching a responsible plea in the anti-money-laundering investigation, citing sources accustomed to the scenario.
The spoofing case originates from accusations towards Jeyakumar Nadarajah, a former dealer, who was charged in November with 16 counts of fraud and securities manipulation associated to alleged spoofing actions from 2018 to 2019. Nadarajah has pleaded not responsible and is scheduled for trial in February.
