Ex-TD Bank Employee Charged with Money Laundering in Colombia

A former employee of TD Bank, Leonardo Ayala, has been charged with conspiracy to commit money laundering by U.S. authorities. Ayala, 24, worked at a branch in Doral, Florida, from February to November 2023. Prosecutors allege that he facilitated the laundering of narcotics proceeds by issuing dozens of debit cards for accounts set up under shell companies. These accounts were reportedly used to move millions of dollars through ATM withdrawals in Colombia.

 

The scheme began in mid-2023 when another TD employee opened fraudulent accounts. Ayala allegedly received bribes for his role in creating debit cards tied to these accounts. Over several months, the accounts were used to transfer significant sums of money overseas, with one account alone facilitating over $800,000 in withdrawals. Ayala reportedly received payments of approximately $2,650 for his involvement.

 

The U.S. government uncovered the involvement of an ex-TD Bank staff member in money laundering activities linked to Colombia through a combination of financial audits, suspicious activity reports (SARs), and coordination with international agencies. Banks are required to file SARs with the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) when transactions appear suspicious. Investigators identified unusual patterns in account transactions, such as large cash deposits, wire transfers to Colombia, and attempts to conceal the origin of funds.

 

Further scrutiny revealed that the ex-employee had exploited their position to facilitate these transactions, possibly bypassing internal controls. Collaboration with Colombian authorities and financial intelligence units helped trace the money flow, confirming the laundering scheme. This case highlights the importance of anti-money laundering (AML) measures and international cooperation in combating financial crimes.

 

This case is part of a broader investigation into TD Bank’s anti-money laundering practices. In October, TD Bank’s U.S. subsidiaries pleaded guilty to money laundering-related charges and agreed to pay $3.1 billion in penalties. Ayala is the third former TD Bank employee charged in connection with similar schemes involving over $670 million in illicit funds from 2019 to 2023.

 

If convicted, Ayala could face up to 20 years in prison. TD Bank has stated that it identified and reported the suspicious activities, cooperating fully with investigators. The case highlights the ongoing challenges financial institutions face in combating money laundering networks.

 

For more details, refer to official statements from the U.S. Department of Justice and related news coverage【6】【7】【8】.