TD Bank Insider Arrested And Charged With Facilitating Money Laundering

NEWARK, N.J. - A former Florida-based employee of TD Bank, N.A. was arrested yesterday for facilitating money laundering to Colombia through the financial institution, U.S. Attorney Philip R. Sellinger announced.

Leonardo Ayala, 24, of Homestead, Florida, is charged by complaint with one count of money laundering conspiracy. Ayala had his initial appearance yesterday before U.S. Magistrate Judge Lisette M. Reid in Miami federal court and was released on location monitoring and a $100,000 bond.

According to documents filed in this case and statements made in court:

Ayala worked at a TD Bank store in Doral, Florida, between February and November 2023. Starting in June 2023, Ayala exploited his position as a bank employee to facilitate money laundering. After another TD Bank employee opened accounts in the names of shell companies with nominee owners, Ayala assisted the money laundering network by issuing dozens of debit cards for the accounts in exchange for bribes. Those accounts were then used to launder narcotics proceeds through cash withdrawals at ATMs in Colombia. The investigation has revealed that millions of dollars were laundered to Colombia through accounts Ayala serviced.

The charge of money laundering conspiracy carries a maximum penalty of 20 years in prison and a fine of $500,000 or twice the amount involved in the offense, whichever is greater.

U.S. Attorney Sellinger credited special agents and task force officers of the Internal Revenue Service - Criminal Investigation, under the direction of Special Agent in Charge Jenifer L. Piovesan in Newark; special agents and task force officers of the U.S. Drug Enforcement Administration, under the direction of Special Agent in Charge Denise Foster in San Juan, Puerto Rico; and special agents of the Federal Deposit Insurance Corporation - Office of Inspector General, New York Division, under the direction of Special Agent in Charge Patricia Tarasca with the investigation leading to the charges. He also thanked the U.S. Attorney's Office for the Southern District of Florida; Internal Revenue Service - Criminal Investigation in Miami, Florida; Federal Deposit Insurance Corporation - Office of Inspector General, South Florida Division; U.S. Drug Enforcement Administration in Miami, Florida; and Morristown Police Department for their assistance with the investigation.

The government is represented by Assistant U.S. Attorney Marko Pesce of the Economic Crimes Unit in Newark and Trial Attorneys D. Zachary Adams and Chelsea Rooney of the Justice Department's Money Laundering and Asset Recovery Section.

The charge and allegations contained in the complaint are merely accusations, and the defendant is presumed innocent unless and until proven guilty.