Tag: TD Bank

Regulatory Watch News

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  Texas Couple Who Operated an Illegal Pyramid Scheme Are Convicted of Conspiracy, Wire Fraud and Money Laundering

  US Department of Justice

  January 9, 2026

  A federal jury in Sherman, Texas convicted a married couple on Thursday for operating a multi-million-dollar pyramid scheme during the COVID‑19 pandemic. “While many Americans struggled during the COVID-19 pandemic, LaShonda and Marlon Moore orchestrated a lucrative pyramid scheme with the sole aim of enriching themselves,” said Assistant Attorney General A. Tysen Duva of the Justice Department’s Criminal Division. “Through lies and deceit, the defendants recruited vulnerable people and defrauded them of millions of dollars. The Criminal Division is committed to prosecuting fraudsters who inflict substantial harm on every day Americans trying to make a living.”

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  Secretary Bessent Announces Initiatives to Combat Rampant Fraud in Minnesota

  US Department of the Treasury

  January 9, 2026

  WASHINGTON— In Minnesota, Secretary of the Treasury Scott Bessent announced several initiatives to combat rampant government benefits fraud in Minnesota, which has wasted billions of taxpayer dollars. These initiatives are designed to strengthen and safeguard the financial system and protect Minnesota taxpayers. “President Trump has instructed the administration to bring accountability for the hardworking people of Minnesota,” said Secretary of the Treasury Scott Bessent. “Under Democratic Governor Tim Walz, welfare fraud has spiraled out of control. Billions of dollars intended for feeding hungry children, housing disabled seniors, and providing services for children in need were diverted to benefit Somali fraud rings.”

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  34 arrests in Spain during action against the ‘Black Axe’ criminal organisation

  Europol

  January 9, 2026

  The Spanish National Police (Policía Nacional), in close cooperation with the Bavarian State Criminal Police Office (Bayerisches Landeskriminalamt) and with the support of Europol, has conducted an operation against the international criminal organisation ‘Black Axe’. The action resulted in 34 arrests and significant disruptions to the group's activities. Black Axe is a highly structured, hierarchical group with its origins in Nigeria and a global presence in dozens of countries. The core group of arrested suspects consists of 10 individuals of Nigerian nationality.