by Brian Mahany
Big banks have not been getting good press these days and this post is no exception. Earlier this year, TD Bank suffered a startling setback when it was found to have “aided and abetted” fraud. A civil jury then sanctioned the bank with a $67 million dollar judgment. Do you think they learned a lesson? Apparently not.
Now, according to published reports, the bank recanted statements it had made about a key piece of evidence that the bank said didn’t exist. Lawyers for the opposing party say the document produced had been altered.
The case involves a civil suit brought by a victim of the $1.2 billion Ponzi scheme involving Florida attorney Scott Rothstein. Investors and creditors will likely never see any money from Rothstein who was recently sentenced to 50 years in prison. Some investors claimed, however, that TD Bank knew of Rothstein’s problems but didn’t want to lose the millions of dollars he kept in their bank. Instead, they claim the bank turned a blind eye and did not warn anyone. Evidently the jury agreed.
The judge hearing the case is reportedly considering sanctions against both the bank and their lawyers.
Although the case against TD Bank is not a mortgage fraud case, we have been seeing a dramatic rise in foreclosure cases in which the homeowner alleges the mortgage documents were forged! Unfortunately, many of the forged documents cases we see involve big banks. (TD Bank operates in 16 states and employs over 26,000 people.)
If you have a case involving forged loan, assignment or mortgage documents, we want to hear your story. Currently we are getting ready to file a major complaint against Bank of America for similar behavior. Bankers and lawyers that forge documents and lie to courts must be held accountable.
The fraud lawyers at Mahany & Ertl have helped many victims of predatory lending, foreclosure abuse and bank fraud. In most situations, fraud cases can be handled on a contingent fee basis meaning no legal fees unless we win and collect. For more information, contact attorney Brian Mahany (bank fraud cases) at (414) 704-6731 (direct) or by email For mortgage fraud cases, contact attorney Anthony Dietz at
Mahany & Ertl – America’s Fraud Lawyers. We are proud to give homeowners a voice from our offices in Milwaukee, Wisconsin; Detroit, Michigan; Portland, Maine & Minneapolis, Minnesota. Foreclosure defense services available in many locations.