TD Bank Pays $1.205 Billion to Settle Lawsuit Circling Around Stanford Financial Ponzi Scheme

Posted on 02/27/2023

Toronto-Dominion Bank, doing business as TD Bank Group, agreed to pay US$ 1.205 billion to settle a lawsuit in connection with a multi-year Ponzi scheme operated by the Stanford Financial Group. Under the terms of the agreement, TD has settled with the receiver, the official Stanford Investors Committee and other plaintiffs in the litigation. TD…

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