Posted on

TD Bank Pleads Guilty to Money Laundering Violations, Faces $3 Billion in Penalties

pile us quarters 190605695

the staff of the Ridgewood blog

Ridgewood NJ, Toronto-Dominion Bank (TD Bank) has pleaded guilty to violating federal anti-money laundering (AML) and transparency laws, agreeing to pay over $3 billion in fines and penalties. The settlement, announced by U.S. federal officials, includes payments to several agencies such as the Federal Reserve and the Office of the Comptroller of the Currency (OCC). This marks one of the largest financial penalties in U.S. history for a bank’s role in enabling money laundering.

Continue reading TD Bank Pleads Guilty to Money Laundering Violations, Faces $3 Billion in Penalties

Posted on

Ridgewood officials: Probe finds another $377,000 in meter quarters stolen

unnamed1

unnamed1

Ridgewood officials: Probe finds another $377,000 in meter quarters stolen

FEBRUARY 10, 2015, 11:24 AM    LAST UPDATED: TUESDAY, FEBRUARY 10, 2015, 8:33 PM
BY CHRIS HARRIS
STAFF WRITER |
THE RECORD

Auditors found that nearly $850,000 was in fact stolen from the now-infamous coin room where collected parking meter quarters were stored. Thomas Rica, the village’s former public works inspector, admitted pilfering fistfuls of quarters from the room last March.

Rica said he stole $460,000 and received no jail time, according to a plea deal  he reached with the county prosecutor’s office. A judge upheld the agreement for five years’ probation, which disappointed local officials who were pleased, though, that Rica would be forced to pay back at least half of the money.

Rica’s former attorney scoffed at the notion his client stole more quarters, and even village officials suggested there might be an accomplice.

The audit, released by the village Tuesday and delivered to its insurance fund the day before, uncovered a timeline of theft that started in 2010 — a year earlier than previously reported by authorities.

Using information from interviews with village employees as well as Rica’s own financial records, which were turned over to the village by the Bergen County Prosecutor’s Office, auditors determined Rica deposited $471,815.05 to his various bank accounts between 2010 and his arrest on Jan. 13, 2013.

In the first two weeks of 2013 alone, the findings show Rica stole $10,413.51. In 2012, the audit report indicates he took $375,647.84 in quarters. The audit estimated $297,234.34 went missing in 2011, and that Rica pocketed $166,045.89 in 2010.

https://www.northjersey.com/news/ridgewood-officials-probe-finds-another-377-000-in-meter-quarters-stolen-1.1268169