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TD Bank faces Stanford Ponzi scheme liquidators seeking $4.5-billion in trial
Nichola Saminather
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Chris Wattie/Reuters
Toronto-Dominion Bank should be held liable for more than US$4.5-billion of losses at the collapsed Antigua bank of former Texas financier Robert Allen Stanford, lawyers for its liquidators argued in a Canadian court on Monday.
The joint liquidators of Stanford International Bank (SIB) allege negligence and “knowing assistance” by TD, Canada’s second-biggest lender, in allowing SIB to maintain a correspondent account that Mr. Stanford used to perpetrate fraud, according to opening arguments made in the Ontario Superior Court of Justice. ....

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