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TD Bank Settles Lawsuit Over Florida Ponzi Scheme
February 28, 2012
Toronto Dominion Bank has agreed to settle a lawsuit with investors who claimed the bank had aided a $1.2 billion Ponzi scheme run by now-imprisoned confidence man, Scott Rothstein. While Barrons and the Miami Herald reported that TD Bank would pay $170 million, a bank attorney told State Judge Jeffrey Streitfeld that a draft settlement was reached, and that it is confidential. The TD accord is with investors known as the Razorback Group.
For further details: [Bloomberg, 2/28/12]
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