TD Bank Employee Sentenced for Accepting Bribes, Laundering $5.5M in Drug Proceeds

According to the US Justice Department, Leonardo Ayala, a former retail banker at TD Bank, was sentenced on June 10 after pleading guilty to accepting bribes and laundering drug money. From June to November 2023, the 26-year-old received over $6,000 in bribes to open fraudulent accounts and issue debit cards to shell companies. His co-conspirators used these accounts to make over 12,000 ATM withdrawals in Colombia, funneling approximately $5.5 million out of the US. Ayala faces two years in prison and three years of supervised release. Last month, another TD Bank employee, Cheungkin Lam, also pleaded guilty to similar conspiracy charges after accepting $155,000 in bribes to identify accounts with large balances and steal customer data.
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