Former TD Bank Employee Pleads Guilty to Accepting Bribes, Laundering $4.8 Million to Colombia

Gerardo Aquino, 40, of Hollywood, Florida, pleaded guilty to accepting bribes and laundering more than $4.8 million to Colombia while employed by TD Bank.

“The Criminal Division is at the vanguard of protecting the security of the U.S. financial system, including against bank insiders,” said Assistant Attorney General A. Tysen Duva of the Justice Department’s Criminal Division. “Gerardo Aquino abused his position of trust at TD Bank and enriched himself in the process. Bank insiders who facilitate money laundering and illegal activity for criminal organizations play a critical role for that organization and abuse our financial system. When that happens, these insiders will be investigated and prosecuted.”

“From inside TD Bank, Aquino facilitated the laundering of millions of dollars in exchange for bribes,” said U.S. Attorney Robert Frazer for the District of New Jersey. “By enabling crime instead of preventing it, Aquino provided a soft entry point into our banking system for malevolent actors. The U.S. Attorney’s Office will continue to hold financial institutions and their employees accountable when they break the law and undermine the integrity of our financial system.”

“This guilty plea demonstrates that corrupt financial insiders are just as critical to criminal networks as those who move drugs or incite violence,” said Associate Chief of Operations Greg Millard of the Drug Enforcement Administration (DEA). “By exploiting his position at a financial institution, accepting bribes, and helping funnel millions of dollars to Colombia, Gerardo Aquino enabled the movement of illicit proceeds and undermined the integrity of the U.S. financial system. DEA and our partners will continue to identify, investigate, and hold accountable the facilitators who help transnational criminal organizations profit from their crimes.”