Former TD Executive Indicted in Connection with Florida Ponzi Scheme

Posted on October 23rd, 2014 at 9:23 AM

From the Desk of Jim Eccleston at Eccleston Law Offices:

Frank Spinosa, a former regional vice president of TD Bank, has been charged for his involvement in jailed attorney Scott Rothstein’s $1.4 billion Ponzi scheme. The bank fired Spinosa soon after Rothstein’s fraud fell apart in late October, 2009.

The federal indictment of Frank Spinosa alleges conspiracy to commit wire fraud and wire fraud. According to the indictment, Rothstein paid Spinosa to help prop up the scheme. Specifically by sending investors a lock-letter signed by Spinosa, saying that “the payment of funds from the TD Bank trust accounts was restricted to paying those specifically designated investors”, Spinosa made investors think their money was safe.

The attorneys of Eccleston Law Offices represent investors and advisers nationwide in securities and employment matters. Our attorneys draw on a combined experience of nearly 50 years in delivering the highest quality legal services.

Related Attorneys: James J. Eccleston

Tags: Ponzi Scheme, Frank Sponosa, Scott Rothstein

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