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Td chequebook cost7/31/2023 ![]() A StateView executive says they didn't know about or participate in the alleged scheme and are co-operating with TD to repay the money. "Review of the account histories revealed what appears to be a highly sophisticated cheque kiting fraud spanning about 12 months and dozens of accounts, implicating multiple financial institutions," the bank says in its claim.īrothers Dino, left, and Carlo Taurasi run the company. Got a tip? Email the course of the year, that left TD being owed $37,028,055.73 plus interest, the bank claims.The bank says the defendants would quickly withdraw the funds and then cancel the cheque to prevent the money from actually being transferred to the TD account. TD alleges the defendants would cash the cheques into TD accounts and TD would conditionally release the money before the cheque cleared. TD alleges the defendants wrote thousands of bad cheques for large sums of money from both corporate and personal accounts at other banks, according to its statement of claim, filed in the Ontario Superior Court of Justice in Toronto. ![]() ![]() The lawsuit also names as defendants 25 associated corporations, five directors of those companies and StateView's former chief financial officer Daniel Ciccone. TD Bank has filed a lawsuit against StateView Homes, based in Woodbridge, Ont., north of Toronto, and headed by brothers Carlo and Dino Taurasi, alleging the company carried out a "cheque-kiting" scheme from April 2022 to last month. A major Ontario home developer is facing startling allegations from one of the big five banks that it orchestrated a "highly sophisticated," year-long fraud totalling over $37 million.
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