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COViSAL Letter to Judge Salas US District Court NJ USA v. TD Bank

 COViSAL  for Restitution  


November 4, 2024


The Honorable Esther Salas
United States District Court for the District of New Jersey
Martin Luther King Building & Courthouse
50 Walnut Street, Court Room MLK 5 A
Newark, New Jersey 07101

 

Re: United States v. TD Bank, N.A.
       Case № 2:24-cr-00667-ES-1

 

Dear Judge Salas:

My name is Jaime R. Escalona, ​​leader of the Stanford Victims Coalition Latin America (COViSAL), a coalition that has brought together thousands of families in Latin America, the United States, and around the world since 2009; who lost their life savings in Allen Stanford's Ponzi scheme.

COViSAL agrees with the approach made by Examiner John J. Little, Chair Official Stanford Investors Committee (OSIC), in his letter dated 10-31-2024 and respectfully requests that your Court require the U.S. Department of Justice to allocate the $3 billion it will receive from TD Bank, N.A. (TDBNA) and its parent company TD Bank US Holding Company (TDBUSH) in fines and forfeitures to the devastated victims of Stanford, who, ruined by the fraud, have no way to pay for their medical treatments or living expenses. In this regard, I declare:

·         As evidenced in the Reports of Investigation: Case № OIG-516 and Case № OIG-526 of the Office of Inspector General of the United States Securities and Exchange Commission (SEC), since 1997 the SEC's Fort Worth District Office (FWDO) had indications that Allen Stanford was perpetrating a Ponzi Scheme.

·         An inexplicable and unacceptable fact. As evidenced in the multiple documents published during the fourteen (14) years of civil litigation by OSIC against TD Bank and other banks, the Department of Justice had received extensive information from the U.S. Receiver and his attorneys regarding the participation of TD Bank and at no time did the Department of Justice inform  OSIC or the U.S. Receiver that they were investigating TD Bank for money laundering.

We greatly appreciate your attention to this matter. We are sure that you will provide justice for those affected by this monstrous crime.

Sincerely,

/s/ Jaime R. Escalona

Jaime R. Escalona                         
On behalf of COViSAL
jaenrodes@covisal.org
https://www.covisal.org/

 

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