This settlement goals to resolve felony and civil probes into the alleged placement of “a whole lot of fraudulent spoof orders” involving tens of billions of {dollars} in false provide and demand for US Treasury securities.
A spokesperson for TD didn’t instantly touch upon the matter.
The settlement coincides with extra allegations in opposition to TD, which is accused of failing to detect cash laundering and different monetary crimes at a number of US branches. Prosecutors have filed at the least 4 instances associated to those allegations in New York, New Jersey, and Florida.
The Wall Road Journal just lately reported that the financial institution is approaching a responsible plea in the anti-money-laundering investigation, citing sources conversant in the scenario.
The spoofing case originates from accusations in opposition to Jeyakumar Nadarajah, a former dealer, who was charged in November with 16 counts of fraud and securities manipulation associated to alleged spoofing actions from 2018 to 2019. Nadarajah has pleaded not responsible and is scheduled for trial in February.