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The Rich Zeoli Show

TD Bank Guilty in Money Laundering Case

The Rich Zeoli Show

Audacy

News

4.91.6K Ratings

🗓️ 10 October 2024

⏱️ 46 minutes

🧾️ Download transcript

Summary

The Rich Zeoli Show- Hour 1: 3:05pm- TD Bank Pleads Guilty in Money-Laundering Case. Stacy Cowley, Matthew Goldenstein, and Rob Copeland of The New York Times write: “TD Bank agreed to pay about $3 billion in fines to U.S. authorities and pleaded guilty on Thursday to money-laundering-related charges in a case brought by federal prosecutors, who said the Canadian bank made it ‘convenient’ for criminals to open accounts, transfer funds and even deposit seven-figure sums of cash at its branches. The combined penalties are the largest ever imposed by U.S. authorities on a bank for violating anti-money-laundering laws, and include an ‘asset cap’ that prevents TD Bank from growing any bigger than its current size.” You can read the full article here: https://www.nytimes.com/2024/10/10/business/td-bank-fine.html 3:20pm- While speaking to the press in the aftermath of Hurricane Milton, President Joe Biden claimed that some Americans received “death penalties” as a result of disinformation on hurricanes spreading online. But who on earth has suggested that the hurricane wasn’t real? The only thing the Biden Administration has specifically labeled as “disinformation” is the claim that the Federal Emergency Management Agency (FEMA) used a portion of its funding to relocate undocumented migrants domestically—which did occur, according to FEMA’s own website. Is the Biden Administration preparing to use this natural disaster as an excuse to censor speech online? 3:30pm- Tim Murtaugh—Columnist for The Washington Times & Senior Advisor to the Trump 2024 Campaign—joins The Rich Zeoli Show to discuss Donald Trump’s campaign rallies in Scranton and Reading, Pennsylvania on Wednesday. If the election were held today, would Trump win PA? It certainly seems like it because the state’s “electorate is much more Republican than it was in 2020.”

Transcript

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0:00.0

The Rich the Holy Show on Talk Radio 1210, W.P.H.D.

0:05.0

This breaking news story about TV Bank right here in our area.

0:11.0

Laundering money to drug dealers, what the hell?

0:16.2

T.D. Bank to pay $3 billion and face a rope cap over money laundering violations.

0:22.8

Unbelievable.

0:23.6

Welcome back to the show.

0:24.8

Glad you're here 855, 839, 12, 10 on Twitter

0:28.1

at Rich Zioli.

0:29.8

This story just broke a short time ago.

0:31.5

There's a bunch of these branches all around us. It's

0:33.3

based actually out of Toronto, based in Canada. You're going to pay billions in

0:37.7

dollars in criminal fines and penalties to several federal agencies including

0:41.6

the Federal Reserve and the Office of the Comptroller several federal transparency laws. Wow. They allegedly fail to adequately oversee its retail

0:56.2

banking operations which allowed a subsidiary to be used to launder hundreds of

1:02.0

millions of dollars through a drug trafficking ring.

1:07.8

The bank allegedly failed to monitor 18.3 trillion in customer activity over a six-year period, allowing three money laundering networks to move millions of dollars through its accounts.

1:20.0

And Merrick Garland said in a press conference today,

1:22.8

T.D. Bank created an environment that allowed financial crimes to flourish

1:27.5

by making its services convenient for criminals.

1:30.8

It became one. But you better make sure that you report that 600 bucks you made

1:36.6

on Etsy or the government will come after you all right? Big company like this big

1:41.5

bank like this they do got to pay a little fine, you know,

...

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