Posted on 02/01/2025 11:50:16 PM PST by Red Badger
Here is Bharat Masrani. Born in Uganda, he is the overall head of TD Bank for Canada and its foreign holdings.
Under his "leadership" TD Bank ran a massive money laundering operation that was working for Mexican cartels who were moving Chinese fentanyl.
TB Bank must now pay a three billion dollar fine** put in place by the UNITED STATES Dept of Justice.
Nothing has happened to Marsani - other than he has to bail out of the bank early with a bunch of money.
Canada has done NOTHING to him nor any of the other risk/financial offers involved.
DO YOU NOW UNDERSTAND THE TRUMP TARIFFS?
(** As with such fines, it is the shareholders that take the loss. The companY'S officers lose nothing.)
Trump means business.
Great post.
What is the difference between TD Bank and TB Bank?
Two different banks................
Toronto Dominion Bank
ARE YOU JOKING?!?!?! :)
Perhaps TEN TRILLION and likely more has been WASHEd by AMERICAN BANKS for the cartels!!
It takes about 5 minutes of looking things up for one’s self so go ahead if you desire.
What a joke this is.
THOSE banks got fined too... NO ONE went to prison.
I HOPE whatever strategy is beind tariffs, like this is 1840 :), works.
Bring them to the table for whatever the #### Trump really wants.
If he doesn’t want our shores flooded with cheap goods, CLOSE OFF those countries to trade.
Or is that too direct?
BTTT
Supporting material.
Trudeau ‘concerned’ about TD Bank’s actions in U.S. money laundering case
By Sean Boynton Global News
https://globalnews.ca/news/10826886/td-bank-money-laundering-plea-deal-trudeau/
FinCEN Assesses Record $1.3 Billion Penalty against TD Bank
“The vast majority of financial institutions have partnered with FinCEN to protect the integrity of the U.S. financial system. TD Bank did the opposite. From fentanyl and narcotics trafficking, to terrorist financing and human trafficking, TD Bank’s chronic failures provided fertile ground for a host of illicit activity to penetrate our financial system,” said Deputy Secretary of the Treasury Wally Adeyemo. “Our historic action represents a significant step in safeguarding our country and communities from criminal activity like fentanyl and human trafficking by requiring TD Bank to fix the vast deficiencies in its safeguards against money laundering. The Biden-Harris Administration is committed to taking action to keep our communities safe from the sort of behavior facilitated by illicit finance and enabled by TD Bank’s lax oversight, and we are making clear that financial institutions will face severe repercussions if they fail to maintain necessary safeguards.”
https://www.fincen.gov/news/news-releases/fincen-assesses-record-13-billion-penalty-against-td-bank
TD Bank probe tied to laundering of illicit fentanyl profits, WSJ reports
By Reuters
May 2, 20241:59 PM PDTUpdated 9 months ago
A U.S. Department of Justice (DoJ) investigation into TD Bank (TD.TO), opens new tab is focused on how Chinese drug traffickers and crime groups used the Canada’s second-largest lender to launder their money from fentanyl sales, the Wall Street Journal reported on Thursday.
One easily found article tearing apart Chase, BONY, HSBC and others for large scale illicit activity...
We would have to raise tariffss on ourselves to teach US banks a lesson :)
HSBC is British with an American subsidiary.
Other big names are Deutche (German) and Standard Chartered (British)]
SO SORRY to burst everyone’s bubble.
agreed and not a word about doing away with income tax...Trump could not handle hillary and everyone knows her crimes.
This is all about transactional leverage. Both the Canadian and Mexican economies are largely dependent on the US for their economic health. 76 percent of the Canadian overall exports and 79% of Mexico’s exports are to the US while only 18 percent overall US exports are to those 2 countries More importantly, only 11% of our overall GDP is generated by global exports while 30 percent of theirs is generated by exports largely to the world’s largest wealthiest consumer market next door to them. Those two factors produce the result that every dollar worth to our economy that we trade with them is worth over $10 to their much smaller economies During Trump’s first term we had a slight trading surplus with those two counties after he renegotiated NAFTA which has grown over the last 4 years to a 100 billion dollar deficit with Canada.The fact that one does not like the sight of sausage being made does not mean it should not be made to reduce the trade imbalance. /Mr S
“From 2018 to 2021, customers waiting to be demarketed received more than $5 billion into their accounts, with an average of more than $250,000 per account after a request to initiate account closure by an AML employee.”
A huge problem is we need to rebuild much industry from scratch. Because the factories were closed long ago ,many torn down the machinery gone,the workers who made the products are now retired or passed on,fewer engineers and doctors but many more lawyers were trained.
In my area many factory jobs lost and still being lost yet people still buy the things those factories made;just that the items are made mostly in Communist China.
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