TD Bank Strikes $41M Deal To End Rothstein Fraud Claims

Law360, Los Angeles (February 27, 2013, 9:04 PM EST) -- TD Bank NA and Emess Capital LLC have reached a $41 million settlement agreement finally resolving allegations raised in 2010 that the bank committed fraud and perpetuated a money laundering conspiracy in coordination with Scott W. Rothstein’s Ponzi scheme, according to documents unsealed Tuesday in Florida bankruptcy court.

TD Bank and Emess, the largest secured creditor in Rothstein’s Ponzi scheme, agreed to the settlement in September, but the terms of the agreement were made public Tuesday with an order by U.S. Bankruptcy Judge Raymond B. Ray....
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