{"id":48496,"date":"2026-07-24T07:04:14","date_gmt":"2026-07-24T07:04:14","guid":{"rendered":"https:\/\/cryptomag.finance\/?p=48496"},"modified":"2026-07-24T07:04:14","modified_gmt":"2026-07-24T07:04:14","slug":"bank-insiders-admit-to-processing-hundreds-of-millions-in-drug-linked-illicit-transactions","status":"publish","type":"post","link":"https:\/\/cryptomag.finance\/?p=48496","title":{"rendered":"Bank Insiders Admit to Processing Hundreds of Millions in Drug-Linked Illicit Transactions"},"content":{"rendered":"

\"\"<\/p>\n

Two bank insiders have admitted to assisting a money laundering ring connected to illegal drug sales.<\/p>\n

The pair helped power a money-laundering network by moving nearly half a billion dollars through accounts mainly in New York and New Jersey, says<\/a> the U.S. Department of Justice.<\/p>\n

One employee, Wilfredo Aquino, who worked as a TD Bank assistant store manager, processed over 1,600 official checks worth $92 million for the money laundering ring in exchange for gift cards valued at roughly $11,000. Aquino, who had pleaded guilty to charges of facilitating money laundering, was sentenced to 46 months in prison.<\/p>\n

The other, Edward Low, also known as \u201cMang Wah Low\u201d and \u201cEddie Low,\u201d who worked as a TD Bank retail employee, accepted bribes totaling more than $26,000 and shared private customer details that enabled nearly $485,000 in fraud. Low, who had pleaded guilty in February, was sentenced to 24 months in prison for conspiring to commit wire fraud.<\/p>\n

Prosecutors tied the operation to fentanyl trafficking and noted it prompted a wide probe into the bank\u2019s monitoring lapses.<\/p>\n

That investigation resulted in the lender agreeing to pay over $3 billion in penalties while facing limits on its U.S. retail assets.<\/p>\n

The bank states that fixing its anti-money laundering systems remains its top focus and that it fully cooperated with authorities during the case.<\/p>\n

Officials add that the institution has invested heavily in staff, training, procedures, and technology to strengthen those controls.<\/p>\n

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The post Bank Insiders Admit to Processing Hundreds of Millions in Drug-Linked Illicit Transactions<\/a> appeared first on The Daily Hodl<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Two bank insiders have admitted to assisting a money laundering ring connected to illegal drug sales. The pair helped power a money-laundering network by moving nearly half a billion dollars through accounts mainly in New York and New Jersey, says the U.S. Department of Justice. 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