Former TD Bank Manager Gets Nearly Four Years in $474M Money-Laundering Case
By CU Today Staff —
NEWARK, N.J.—A former TD Bank assistant store manager was sentenced to 46 months in federal prison Wednesday for helping a money-laundering network move approximately $474 million through TD Bank accounts, according to the U.S. Department of Justice.
Wilfredo Aquino, 47, of Manhattan, was sentenced by a federal judge in New Jersey after pleading guilty in January to facilitating the conspiracy while working at the bank.
Federal prosecutors said Aquino exploited his position at TD Bank from 2019 through February 2021 to assist a criminal network led by Da Ying Sze, also known as "David." Prosecutors said the organization deposited large amounts of cash at TD Bank branches in New York, New Jersey and elsewhere, moving roughly $474 million through bank accounts while Aquino helped the operation evade internal controls.
The sentencing is the latest prosecution stemming from the sweeping federal investigation into TD Bank's anti-money laundering failures.
Originally reported by CU Today.