TD bank sues former wealth adviser Gregg Desmarais for allegedly breaching contract by taking clients after anti-money-laundering review.
Toronto-Dominion Bank (TD) is suing former wealth adviser Gregg Desmarais for allegedly violating his contract by taking clients with millions of dollars in assets to Raymond James Financial after an internal review over suspected anti-money-laundering policy violations. TD is under investigation by US authorities over alleged money laundering and financial crimes at its US branches. The bank claims Desmarais's departure was abrupt and violated his contract, while Desmarais denies the allegations.
June 07, 2024
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