Funding Fail: Former TD Bank Employee Arrested for Laundering Columbian Drug Money

On December 10, 2024, former Florida TD Bank N.A. employee, Leonardo Ayala, 24, was arrested and charged for his role in laundering Columbian narcotics proceeds through TD Bank.

Ayala worked at a TD Bank in Doral, Florida between February and November 2023. In June 2023, Ayala allegedly started exploiting his position to launder money. The scheme involved another TD Bank employee who allegedly opened accounts in the names of shell companies with nominee owners. Ayala then accepted bribes to help the money laundering network by issuing debit cards for the accounts. The accounts were purportedly used to launder millions of dollars in narcotics proceeds through cash withdrawals at ATMs in Colombia.

Ayala’s arrest follows TD Bank’s recent high-profile settlement, where the bank pleaded guilty and agreed to pay $1.8 billion in penalties for money laundering and Bank Secrecy Act violations, in addition to $1.3 billion in penalties assessed by FinCEN. The DOJ press release specifically referenced Ayala’s scheme as one of several examples of criminal activity that flourished due to the bank’s inadequate AML program.

Ayala appeared in Miami federal court on December 10. He is charged with one count of conspiracy to commit money laundering. He faces a maximum penalty of 20 years in prison if convicted. All future proceedings will be in New Jersey.

If you would like more information on what it means to be a whistleblower or think you may have information relating to a money laundering scheme, please feel free to contact us so we can connect you with a member of the Constantine Cannon whistleblower lawyer team for a free and confidential consultation.

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