Senators blame TD Bank for ponzi scheme.

BANKING AND CREDIT NEWS-June 19, 2019--Senators blame TD Bank for ponzi scheme

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Global Banking News - 19 June 2019

Two US senators have come up with the claim that TD Bank (TD.TO) should provide compensation to victims of a ponzi scheme during the financial crisis years.

In 2009, investors in R Allen Stanford's financial company found that the company was running a ponzi scheme and that their investments were worthless. The investors had sued banks, including TD Bank, for allegedly aiding, abetting and conspiring with R Allen Stanford to steal clients' money. The banks were also accused of ignoring the firm's...

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