MIAMI, Fla. — A former TD Bank employee, Leonardo Ayala, 24, was arrested on December 10, 2024, and charged with facilitating a money laundering operation that moved millions of dollars in narcotics proceeds from the United States to Colombia.
According to a U.S. Department of Justice press release, Ayala, who worked at TD Bank’s Doral, Florida location between February and November 2023, exploited his position to help launder illegal funds. The scheme involved opening accounts in the names of shell companies, which were controlled by other individuals, and issuing debit cards used to transfer funds to Colombia via ATM withdrawals.
How the Scheme Operated
The money laundering operation began in June 2023 when a third party requested Ayala to issue 25 debit cards linked to an account belonging to Shell Company A, a nominee entity involved in the laundering operation. After confirming the shipment address, Ayala processed the cards, which were later used to move over $500,000 from the United States to Colombia between July 7 and September 7, 2023.
A second shell company, Shell Company B, was similarly exploited for the laundering operation. After being opened by another bank employee, Ayala accessed the account multiple times to issue debit cards, which were later used to launder $800,000.
Surveillance footage also captured Ayala interacting with a Venezuelan national at the bank while issuing cards linked to Shell Company B. Additionally, the Venezuelan national transferred bribe money to Ayala between September 28, 2023, and November 7, 2023, totaling approximately $2,250 for his cooperation.
Investigating the Crime
Ayala admitted to his involvement during an initial interview with law enforcement on November 20, 2023, though he denied accepting bribes. The investigation revealed that Ayala had exchanged multiple messages with associates about payments for his work, including a discussion in which he mentioned being “on business” while awaiting bribe payments from the Venezuelan nationals.
TD Bank’s Role
Ayala’s arrest follows a significant October 2024 guilty plea from TD Bank for violations of the Bank Secrecy Act (BSA) and money laundering conspiracy. The financial institution was ordered to pay over $1.8 billion in penalties after a comprehensive investigation revealed long-standing deficiencies in its anti-money laundering (AML) program.
From 2014 to 2023, TD Bank failed to effectively monitor suspicious transactions, including those involving high-risk countries like Colombia. As a result, money laundering operations were able to move large sums of money through the bank. Over the course of several years, the bank processed more than $670 million from illicit money laundering operations involving narcotics proceeds.
Ayala’s Potential Sentence
Ayala faces up to 20 years in prison if convicted on the charges of money laundering and bribery. His case is currently being prosecuted in New Jersey federal court. Additional investigations into the money laundering network are ongoing, with multiple individuals having been charged, including other bank insiders.
As part of the ongoing legal proceedings, Ayala’s case will be closely monitored, and the U.S. Department of Justice has committed to further updates as the case progresses.
