Wilfredo Aquino, a former employee of TD Bank NA based in New York, pleaded guilty to facilitating the movement of hundreds of millions of dollars by a money laundering network through TD accounts Bank, the Justice Department said in a statement.

“The defendant took advantage of his position at TD Bank and facilitated the criminal activity of a money laundering network that moved hundreds of millions of dollars through the bank’s accounts,” said Assistant Attorney General A. Tysen Duva of the Justice Department’s Criminal Division.

“During the illicit scheme, the defendant evaded reporting requirements to conceal the identity of the money laundering network’s leader. The Criminal Division is fully committed to eradicating money laundering networks and their facilitators, who exploit the security and stability of our nation’s banking system,” he added.

“Aquino helped criminals launder money from within TD Bank,” said Senior Attorney Philip Lamparello of the U.S. Attorney’s Office for the District of New Jersey’s Criminal and Special Proceedings Division.

Bank employees are the first line of defense against money laundering, fraud, and other crimes.

financial crimes.

Hundreds of millions of dollars were moved

“Wilfredo Aquino’s position at TD Bank required him to report suspicious customer activity and adhere to strict anti-money laundering regulations,” said Special Agent in Charge Jenifer L. Piovesan of the IRS Criminal Investigation Service (IRS-CI) Newark Field Office.

“Instead, he turned a blind eye to compliance with the law and prioritized his personal enrichment. IRS-CI will continue to work with our law enforcement partners to investigate individuals who take advantage of our financial system through criminal activity,” she added.

Aquino, 47, a resident of New York,He pleaded guilty to one count of conspiracy to launder monetary instruments. His sentencing is scheduled for May 12. According to court documents, from 2019 to February 2021, Aquino, then an assistant store manager at TD Bank, used his position to facilitate the movement of hundreds of millions of dollars by a money laundering network through TD Bank accounts. During that time, the network's leader, Da Ying Sze, known as David, and his accomplices moved approximately $474 million through TD Bank accounts, depositing cash at TD Bank stores in New York, New Jersey, and other locations. In February 2022, Da Ying Sze pleaded guilty to coordinating a conspiracy to launder $653 million, operating an unlicensed money transfer business, and bribing bank employees in connection with financial transactions. He accepted bribes of up to $11,000.

While the network used several TD Bank stores to conduct its money laundering activities, the majority of the money was laundered through Aquino's store in Midtown Manhattan. No one processed more transactions for David's Network at the Midtown Manhattan store than Aquino.

During David's money laundering operation, Aquino processed approximately 1,680 official bank checks for David's Network, totaling more than $92 million. Nearly all of these bank checks were funded by a corresponding cash deposit exceeding $10,000, which compelled TD Bank to file a Currency Transaction Report (CTR).

Although Aquino knew that David was making these deposits, he never identified him as the "driver" in the CTR. Aquino also knew that TD Bank had closed other accounts linked to David due to suspicious activity; A colleague even warned him that David's activity "looked like money laundering." In February 2021, Aquino facilitated three money laundering transactions for David, totaling nearly $2 million in cash, into a third party's account. He did not report David as the driver of the transaction, thus concealing his involvement in the money laundering process. Aquino accepted numerous gift cards from David totaling more than $11,000 in exchange for facilitating this scheme, including the three transactions in February 2021. The charge of conspiracy to commit money laundering carries a maximum penalty of 20 years in prison and a fine of $500,000 or twice the amount involved in the crime, whichever is greater.From 2019 through February 2021, Aquino, then an assistant store manager at TD Bank, used his position to facilitate the movement of hundreds of millions of dollars by a money laundering network through TD Bank accounts. During that time, the network's leader, Da Ying Sze, known as David, and his accomplices moved approximately $474 million through TD Bank accounts, depositing cash at TD Bank stores in New York, New Jersey, and other locations. In February 2022, Da Ying Sze pleaded guilty to coordinating a conspiracy to launder $653 million, operating an unlicensed money transfer business, and bribing bank employees in connection with financial transactions. He accepted bribes of up to $11,000. While the network used several TD Bank stores to conduct its money laundering activities, most of it was carried out at TD Bank stores. The money was laundered through Aquino's store in Midtown Manhattan. No one processed more transactions for David's Network at the Midtown Manhattan store than Aquino.

During David's money laundering operation, Aquino processed approximately 1,680 official bank checks for David's Network, totaling over $92 million. Nearly all of these bank checks were funded with a corresponding cash deposit exceeding $10,000, which compelled TD Bank to file a Currency Transaction Report (CTR).

Although Aquino knew David was making these deposits, he never identified him as the "driver" in the CTR. Aquino also knew that TD Bank had closed other accounts linked to David due to suspicious activity; A colleague even warned him that David's activity "looked like money laundering." In February 2021, Aquino facilitated three money laundering transactions for David, totaling nearly $2 million in cash, into a third party's account. He did not report David as the driver of the transaction, thus concealing his involvement in the money laundering process. Aquino accepted numerous gift cards from David totaling more than $11,000 in exchange for facilitating this scheme, including the three transactions in February 2021. The charge of conspiracy to commit money laundering carries a maximum penalty of 20 years in prison and a fine of $500,000 or twice the amount involved in the crime, whichever is greater.From 2019 through February 2021, Aquino, then an assistant store manager at TD Bank, used his position to facilitate the movement of hundreds of millions of dollars by a money laundering network through TD Bank accounts. During that time, the network's leader, Da Ying Sze, known as David, and his accomplices moved approximately $474 million through TD Bank accounts, depositing cash at TD Bank stores in New York, New Jersey, and other locations. In February 2022, Da Ying Sze pleaded guilty to coordinating a conspiracy to launder $653 million, operating an unlicensed money transfer business, and bribing bank employees in connection with financial transactions. He accepted bribes of up to $11,000. While the network used several TD Bank stores to conduct its money laundering activities, most of it was carried out at TD Bank stores. The money was laundered through Aquino's store in Midtown Manhattan. No one processed more transactions for David's Network at the Midtown Manhattan store than Aquino.

During David's money laundering operation, Aquino processed approximately 1,680 official bank checks for David's Network, totaling over $92 million. Nearly all of these bank checks were funded with a corresponding cash deposit exceeding $10,000, which compelled TD Bank to file a Currency Transaction Report (CTR).

Although Aquino knew David was making these deposits, he never identified him as the "driver" in the CTR. Aquino also knew that TD Bank had closed other accounts linked to David due to suspicious activity; A colleague even warned him that David's activity "looked like money laundering." In February 2021, Aquino facilitated three money laundering transactions for David, totaling nearly $2 million in cash, into a third party's account. He did not report David as the driver of the transaction, thus concealing his involvement in the money laundering process. Aquino accepted numerous gift cards from David totaling more than $11,000 in exchange for facilitating this scheme, including the three transactions in February 2021. The charge of conspiracy to commit money laundering carries a maximum penalty of 20 years in prison and a fine of $500,000 or twice the amount involved in the crime, whichever is greater.and his accomplices moved approximately $474 million through TD Bank accounts, depositing cash at TD Bank stores in New York, New Jersey, and other locations. In February 2022, Da Ying Sze pleaded guilty to coordinating a conspiracy to launder $653 million, operating an unlicensed money transfer business, and bribing bank employees in connection with financial transactions. He accepted bribes of up to $11,000. While the network used several TD Bank stores to conduct its money laundering activities, the majority of the money was laundered through Aquino's store in Midtown Manhattan. No one processed more transactions for David's Network at the Midtown Manhattan store than Aquino. During David's money laundering operation, Aquino processed approximately 1,680 official bank checks for David's Network, totaling over $92 million. Nearly all of these bank checks were funded by a corresponding cash deposit exceeding $10,000, which prompted TD Bank to file a currency transaction report (CTR). Although Aquino knew David was making these deposits, he never identified him as the "driver" in the CTR. Aquino also knew that TD Bank had closed other accounts linked to David due to suspicious activity. A colleague even warned him that David's activity "looked like money laundering." In February 2021, Aquino facilitated three money laundering transactions for David, totaling nearly $2 million in cash, into a third party's account. He did not report David as the driver of the transaction, thus concealing his involvement in the money laundering process. Aquino accepted numerous gift cards from David totaling more than $11,000 in exchange for facilitating this scheme, including the three transactions in February 2021. The charge of conspiracy to commit money laundering carries a maximum penalty of 20 years in prison and a fine of $500,000 or twice the amount involved in the crime, whichever is greater.and his accomplices moved approximately $474 million through TD Bank accounts, depositing cash at TD Bank stores in New York, New Jersey, and other locations. In February 2022, Da Ying Sze pleaded guilty to coordinating a conspiracy to launder $653 million, operating an unlicensed money transfer business, and bribing bank employees in connection with financial transactions. He accepted bribes of up to $11,000. While the network used several TD Bank stores to conduct its money laundering activities, the majority of the money was laundered through Aquino's store in Midtown Manhattan. No one processed more transactions for David's Network at the Midtown Manhattan store than Aquino. During David's money laundering operation, Aquino processed approximately 1,680 official bank checks for David's Network, totaling over $92 million. Nearly all of these bank checks were funded by a corresponding cash deposit exceeding $10,000, which prompted TD Bank to file a currency transaction report (CTR). Although Aquino knew David was making these deposits, he never identified him as the "driver" in the CTR. Aquino also knew that TD Bank had closed other accounts linked to David due to suspicious activity. A colleague even warned him that David's activity "looked like money laundering." In February 2021, Aquino facilitated three money laundering transactions for David, totaling nearly $2 million in cash, into a third party's account. He did not report David as the driver of the transaction, thus concealing his involvement in the money laundering process. Aquino accepted numerous gift cards from David totaling more than $11,000 in exchange for facilitating this scheme, including the three transactions in February 2021. The charge of conspiracy to commit money laundering carries a maximum penalty of 20 years in prison and a fine of $500,000 or twice the amount involved in the crime, whichever is greater.Most of the money was laundered through Aquino's store in Midtown Manhattan. No one processed more transactions for David's Network at the Midtown Manhattan store than Aquino.