Private Equity Selling Their Equity, TD's Billion Dollar Scam
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Show Notes
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Bloomberg Intelligence hosted by Paul Sweeney and Alix Steel
Today’s Podcast Features are:
Claire Ruckin, Bloomberg News Senior Reporter, discusses her story Private Equity Firms Are Getting Rid of Their Equity. Already this year, more than 20 businesses in the US and Europe have borrowed to make payouts to their owners, according to Bloomberg-compiled data, meaning they’ve less financial “skin in the game” if things ever go sour.
David Voreacos, Bloomberg Legal Reporter, on today's Big Take: The Money Laundering Scams that Cost TD Bank Billions. Last year, TD’s American subsidiary became the first US bank ever to plead guilty to conspiracy to commit money laundering. The company agreed to pay $3.1 billion in fines to various parts of the federal government, a sum that included the biggest penalty ever levied by the Department of Justice under the Bank Secrecy Act, the main US anti-money-laundering law. More than two dozen people, including three bank employees, have already been charged.
Shelby Magid, Deputy Director, Eurasia center at the Atlantic council, recaps Trump and Putin's call from yesterday and what that means for the potential ceasefire deal and the War in Ukraine.
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