A Bank Got Caught Laundering Money

➡ TD Bank, a well-known financial institution, has been found guilty of money laundering, a process where illegally obtained money is made to appear legitimate. The bank facilitated this for people involved in illegal activities, such as drug dealing, by accepting large cash deposits without asking questions. This resulted in a fine of over $3 billion for the bank, and several people associated with the bank are now facing jail time. The bank is now under restrictions and cannot grow any further.
➡ The Patriot Gold Group is a top-rated company for buying gold, silver, and other precious metals, which are predicted to increase in value. In other news, electric vehicle owners are warned to park their cars high during floods due to the risk of seawater causing fires. Elon Musk has introduced robo-taxis, which are expected to replace parking lots with parks. Lastly, there are billions of dollars in unused credit card rewards, and it’s advised to use any gift cards immediately due to the risk of businesses going bankrupt.
➡ The article advises readers to research before making any purchases and warns against money laundering, which is a serious crime. It also encourages reporting any suspicious activities and ends with a query about experiences with TD Bank.

Hey, I’m Dan. Welcome back. You’re watching IAllegedly. And I’ve got a good one for you today because it is illegal to launder money. It just is. And today we have a sponsor, Patriot Gold Group. Hit the like button, subscribe to the channel. But let’s get right into it. You know, we’ve all seen movies. Scarface, TV show, Ozark. You know, I could go on and on and on. And what happens is when you have a business that is basically illegal, selling Yale, selling different things that are illegal, like drug dealing and gambling and things like that, you really just can’t have a regular bank account.

Or can you? Well, one thing that we learned late last week was that TD Bank was actually laundering money for people that were doing illegal activity. And this is wild to think about because what laundering money, we all hear about this, what this is, is you take things, let’s start with cash. If you have drug dealing and you have cash, you can, the idea with it is to try to get it rinsed and put it through a bank so that you can then use it in a legitimate format. Buy a house, buy luxury cars, vacations, jewelry, whatever you want to spend it on, food, okay? But the idea with this is that you got the money illegally and you’re not supposed to do that.

TD Bank did well over a billion dollars of this. And people went to jail this week because they actually pled guilty to doing this. This is amazing when you think about this. And if you’ve seen the movie Scarface and one thing that happens in the middle of the movie as Tony Montana starts this rise to power is that they bring satchels full of cash into the bank and carry it into the bank. This happened at TD Bank. These guys were bringing drug money and putting it on the counter and having them deposit it like it was normal.

Didn’t ask questions and charge them a fee for this. The people that hit it are going to jail now for this. So the thing about this is that it is illegal to go out and do this. Now, there’s a lot of different ways to launder money and I found great articles and I found one in particular that really says a lot of different things. And we’ve all heard the term shell corporation. Well, what you can do is you can go out and set up a fake business. That’s legitimate. The business is legitimate because you register it with the state that you’re doing business in and then you start to deposit money like you’re a cash business and then you have expenses that are not legitimate.

You may be paying yourself in another company. Again, laundering money. The idea with this is that if you pay enough and you rinse it and you transfer it, then you can go out and you can spend the money legally. This is unbelievable that a bank did this. They had the largest fine ever. One point three billion dollar fine with all of the penalties and everything that they had. It was over three billion dollars in fines that they had to pay. But again, guys, this is not something that it’s just unconscionable that a bank did this.

TD Bank is Toronto based. They’re here in the United States. I’ve had people write me, oh my gosh, Dan, I got my first bank account from TD Bank. The idea with this is that they are a legitimate bank who went out and did something completely nefarious. So it’s unbelievable. I mean, in addition to that, you can take cash to a casino, walk in and buy chips. Hey, I want to bet $100,000 in chips. You conservatively bet about $10,000. Let’s say when the smoke clears, you lose about five grand. Then you go cash the $95,000 in chips in.

And you can have the casino wire you the money. You can have them send you a check. There’s a lot of different things. Now, the casinos are cracking down on this because they know that people are doing this and bad things like this and they get wise to this. So a lot of different ways to do this. Cash businesses, businesses like car washes, businesses like nail salons, businesses like strip clubs, things like that that take a lot of money in bars, certain restaurants, things like that. If you owned a cash establishment, let’s say that you did $3,000 a day in business.

Well, now you’re going to do $10,000 a day because you’re going to take seven of it in cash and run it through the books. See what I’m saying? Now, TD Bank did this for a fee. They took a fee from these drug dealers and nefarious people. And again, these are people, you know, I’m making light of it saying, yeah, these are people that are selling cocaine and fentanyl and horrible things that are that are that are killing people. And these people don’t think anything about it. And they did so much of it. And it was so blatant that they just did it willy nilly like no stopping it at all, which is wild.

When you think about that, that a financial institution to risk that there are half a dozen people that got arrested. People are going to do serious jail time for this. People that got fined. TD Bank will never be able to right now is under limitations that they can’t do any growth right now. They cannot grow the bank. They cannot get any bigger. So, again, that’s a bank I would want if I had my money in a bank, I’d pull it out in a second with this because as they charge you fees and things like this and they’re letting the drug dealers come in, it just sells what management’s going to do.

Now, whatever TD Bank has done and it’s, you know, Dan, a few bad apples don’t spoil the whole basket. Yeah, they do. Yeah, they do. In this case, guys, I would do what I could to get the hell out of there. So let me know your thoughts on this stuff. But again, Scarface Ozark Ozark, same thing. You know, Marty Berg was this expert and his son Jonah on the show was like, oh, I said of this dummy corporation, we brought the money in and then transferred. I got fake IDs and bought things. And again, people buy luxury cars.

They buy things of value. You know, Lebanon has been in the news lately. Lebanon had a currency drop in value. And as they were in the news, one thing that people did was they went to buy assets to hide their cash. So they would buy things like expensive motorcycles, gold in cash. They would buy cars, things that they could then turn around. Now, you buy an expensive three or four hundred thousand dollar car and then try to turn it around. And you can sit there and listen, I know you spent three hundred grand on that car, but I’ll give you two hundred for it.

OK, well, the money was illegally obtained. So, yeah, you’re going to take a huge hit, but people do things like this. But have you heard about this? And it’s wild that TD Bank did this. And it is unbelievable that a regular financial institution was caught doing this. And the Justice Department nailed them. Felonies upon felonies upon felonies. It is illegal to do this. Do not do this. Do not get involved with this. There are a thing called mules where they say, hey, listen, let me give you this money. You put it in your account. You pay me back.

You keep five hundred bucks and you pay it back. Don’t ever do that. Don’t ever do anything with this stuff because it is going to be a big problem. Now, people associate with TD Bank. Here’s what you’re going to see. You’re going to see this thing have spider legs and tentacles over the course of the next six months. You’re going to see between let’s just put between now and the end of this administration. You’re going to see these guys come back and find people that did horrific things. And, you know, if you have any questionable activity, you may not even be involved in this.

But that guy should have a lot of cash going through his account. They’re going to look at these people and scrutinize these people like you’ve never seen before. So let me know what you think about this. It’s wild to think that they did this. And you guys haven’t seen anything yet. You’re going to see a lot of banks get cracked down on this. But have a major bank have this happen. You know, we just heard about how the banks are making all this money. They’re making money on our backs, guys. They’re making money on charging more fees and raising the prices to do different things.

That’s what they’re making money on right now. OK, let me know what you think about all this. Let’s talk about our sponsor, Patriot Gold Group. You know, with inflation coming in hot, there’s really not much that you can rely on other than the fact that there is major uncertainty in the marketplace. One thing that you need to do is you need to get yourself into precious metals right now. The best place to do this is number one rated Patriot Gold Group. Call them 888-330-1431. They have a free investor guide. It’s absolutely no obligation. And you can call them and they will answer all your questions.

It’s very easy to buy gold, silver and other precious metals and they sell everything. Think about this. Bank of America, UBS, Wells Fargo Bank have all told us one thing. And that is gold is going to be red hot between now and the end of the year and in 2025. Get yourself some gold today. Contact number one rated Patriot Gold Group 888-330-1431. If you don’t want to call, use the link below. Fill it out. Get yourself a free investor guide. But contact Patriot Gold today. There’s still a lot in the news to cover. You know, with Hurricane Milton passing through Florida and doing all that damage, one thing that blew me away was the warnings prior to the hurricane for EV car owners.

Now think about this. Jane Castor is the mayor of Tampa and she warned everybody, hey, listen, if you have an EV car, utilize the city parking structures and park the cars as high as possible and park them third, fourth level in case, you know, there’s a problem because the seawater can start fires with these EV cars. Is that wild guys? Think about that. It’s unbelievable to think about this. It’s like this is supposed to revolutionize everything. But this car mixed with saltwater from a guy who hangs out at the beach a lot. I mean, I couldn’t even imagine that.

And, you know, it’s funny. There are areas like Long Beach, California that I have filmed at, what, 100 times there. They have things called king tides that I’ve been down there. Next time they have one, I’ll drive down there and show you guys. They get three and four foot high swells that bring the water level up so high that it comes in people’s backyards and they just, you know, accept it. And there’s certain areas that are low line that these people know that at certain times of the year, about basically twice a year, they’re going to get completely flooded and that they’re going to be subjected to having the house underwater three, four feet.

Isn’t that crazy? Well, if you own one of those EV cars and you’re in that area, you could run the risk of your EV car being underwater. So a whole new problem, guys, whole new problem. You know, Elon Musk just introduced his, you know, robo-taxis that are going to be available in two years. They’re going to cost $30,000 apiece. You’re not going to need a driver. There’s no steering wheel. He did this, you know, great dream demonstration. And then this thing that spelled robo-van, but as he calls it, robovan. Robovan is going to be the new robo-van that can take 20 people around.

And again, C4 Las Vegas for, you know, the game. Hey, I’m going to park down the street from Dodger Stadium and I want to go to the game. That type of stuff is cool. I mean, I think that would be great because you’ve taken trams. We’ve all done that stuff. Disneyland, places like that, they’ll use that stuff. But I don’t know, you know, if you’re going to get rid of parking structures. Now, his whole pitch is you’re going to get rid of parking lots and we’re all going to turn them into parks. So every parking lot is now going to become a park because everybody’s going to take the robo-van, robovan.

Okay? Pardon me. So one thing I get a kick out of is when people send me, you know, people doing bad. And there was a whistleblower in Los Angeles that worked for Building and Safety, Steve Anglais. And Steve was like, hey, I have a problem with some of the bad practices that people are doing here. Accepting bribes, turning the cheek for inspections at the building department. That’s where he worked. And they fired him in 2019. He’s been suing ever since. They just settled with that guy for $3 million, $3 million settlement. And the idea with this was he was wrongly fired for turning people in that were doing bad.

So great story below, but we’ve all seen horrific things done. And again, what about the people at TD Bank? Do you think that these people saw, you know, hey, what’s all that cash doing dropped on the counter? And I keep thinking of Scarface where these guys were carrying, you know, bushels of cash into the bank. And remember, in Scarface, the banker comes out to Tony’s house. He’s got the mansion now at this point. And Tony’s saying, the guy says, listen, Tony, babe, for us to continue, we’re going to have to charge more.

We’re going to have to raise the rate three points. We’re going to charge you three more percent a month to take this cash for everything you bring us because they charge a fee. It’s like a credit card fee, but they’re doing it for the cash. Hey, we’re doing $15 million a month, which in 1980 was a ton of money. It’s a ton of money now, but it’s nothing that TD Bank was doing. The money that these drug dealers were funneling through that place was unbelievable. And that’s the thing. You know, it just, you think about this, you think about turning them, turning somebody in.

How many people worked at TD Bank that just turned their head, got their paycheck every other week and didn’t say anything? That’s the worst part about something like this. So if you think that this was the rare bank that did this, I’m sure it’s done all the time. I’m sure it’s done with smaller banks and different banks just to transfer things around so that they won’t figure it out. But eventually they do. So, you know, let me know. Let me know what you think about all this so far. Are you going to hop in a robo taxi anytime soon? Are you going to use the Waymo in Phoenix? Let me know.

Just a quick video this morning. I’m going to finish it with this. Think about this. There are people out there that have rewards from their credit cards and you get different incentives, points and things like that that you can cash in later. Right now it is anticipated Visa, MasterCard, American Express that there are over $34 billion worth of these rewards that have not been cashed in as of the end of last year. So there’s even more now. But the thing about this is that the credit card companies are getting rid of this.

And since 2018, your buying power to use these rewards has dropped by about 20%. I have told you guys this. I’ve heard horrific horror stories from friends, from listeners, from subscribers that have told me, hey, listen, you know, I bought gift cards, forgot to use them, then the company went bankrupt. Guys, it is a disaster. And you can sit there and say, oh, this doesn’t, you know, bankruptcy laws have changed and it protects these people. It does not. It does not. You have such a little opportunity to do this. If you have an old gift card, spend it now.

Spend it now, spend it now. As I do all this research right now for upcoming videos, you’re going to see a lot of things that are going to come out and people are having a very difficult time. Went to a baseball game last week or two weeks ago with my friend Brad. His dad is the one that bought the $500 worth of gift cards at Lone Star Steakhouse and then the place went out of business the next day. And like I said, the manager that took that money knowing that that place was going to go out of business deserves a spot in hell for that.

But you’re going to see more of this. So protect yourself right now. If you get a gift card, a gift certificate, you go to a charity event and you buy those things. We’ve all done it from our kids’ schools and your grandkids and all that stuff. Baseball, use them immediately. Use them immediately. So many businesses are having a difficult time right now and people just don’t want to hear about this. So, you know, protect yourself guys, protect yourself. So, final, final thing is this goes with that and that is, think about this, there are really high-end bags, shopping bags, things like that and I’m telling you guys, I couldn’t tell you a high-end wallet from a fake wallet.

You know, watches, wallets, things like that. Well, the real high-end brands, Gucci and things like that, there are over, you know, $2 billion worth of stuff that doesn’t get sold every year. There are discount places you can buy that stuff at. Great article below about buying discount, things like that. But in this climate, people don’t have money for anything. They’re not buying $3,000 bags right now, four, five, $6,000 bags. They’re not spending that money right now. But where does that merchandise go? It just doesn’t get destroyed. Yes, some of it does and if you read this article, you’re going to get floored because they, yeah, we’re just not going to let it go on the public marketplace.

We’re going to get rid of it and then they liquidate some of it. So, do yourself a research. If you’re going to buy anything right now, do research. Don’t forget to the like button. Don’t forget to subscribe. Don’t launder money. Email me at hello at iallegedly.com. It’s a felony to do that and you don’t want to be part of it. And if you know somebody’s doing it, report them, okay? Onward and upward, guys. Have a nice day, okay? So, anybody bank at TD Bank, let us know if you saw anything, any shenanigans, okay? I’ll see you guys soon.

Thank you. [tr:trw].

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