May 8, 2012
By: ACFCS Staff
TD Bank is undergoing one of the most difficult times a financial institution has ever endured for the fraud and money laundering perpetrated by a customer. Last week, the bank was told by a federal judge that it must defend against one of the most potent weapons in the United States Code that another victim of the fraud of its customer, Scott Rothstein, will be allowed to wield.
This time, the victim, Emess Capital, will be armed not only with all the weapons that Coquina Investments used in its January victory against the Canadian-based bank which produced a $67 million judgment, but it will also be allowed to use the powerful US Racketeering Influenced and Corrupt Organizations Act (RICO) in a Miami federal court.