TD Bank to pay $90 million in U.S. settlements over Ponzi scheme
Toronto-Dominion Bank will pay $90 million in civil penalties to settle charges by U.S. regulators that it violated securities laws in connection with a Ponzi scheme conducted by Florida lawyer Scott Rothstein, who is now serving a 50-year prison term.
TD was fined $37.5 million by the Financial Crimes Enforcement Network, $37.5 million by the Office of the Comptroller of the Currency and $15 million by the U.S. Securities and Exchange Commission.
(Reporting by Jonathan Stempel in New York; Editing by Gerald E. McCormick)