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Former President Donald Trump attends court during closing arguments in his civil business fraud trial at the New York Supreme Court on Jan. 11, 2024.
What’s up with Trump’s criminal cases now that he’s president-elect?
It’s against Justice Department policy to prosecute a sitting president, and officials are reportedly already taking steps to wind down the federal cases Trump faces that were brought forward by special counsel Jack Smith — one regarding Trump’s alleged efforts to overturn the 2020 election results and another for holding on to classified documents after leaving office.
Trump, who has consistently dismissed these cases as being politically motivated, has pledged to fire Smith “within two seconds.” But Smith and his team reportedly plan to resign before Trump’s inauguration in January.
Trump could theoretically pardon himself in federal cases, but not those at the state level. He was convicted of 34 felony counts in New York earlier this year in relation to a hush money payment he made to former adult film star Stormy Daniels and is awaiting sentencing.
Sentencing in that case was set to occur on Nov. 26, but it’s now up in the air. It’s possible the judge could wait until Trump leaves office to move things forward or dismiss the case entirely. Even before his election win, legal experts doubted Trump would get prison time given he’s a first-time offender and this wasn’t a violent crime. Under the law in New York, Trump faces a number of possible sentences, including up to four years in prison, a fine, or probation.
Trump’s lawyers have made the case that the verdict should be thrown out based on the Supreme Court’s decision granting presidents immunity for official acts. His attorneys have also pushed for the case to be moved to federal court, which could make it easier for Trump to kill it.
The other state-level case Trump faces is in Georgia and concerns his alleged efforts to overturn the 2020 election results in the southern state. This case is in limbo as an appeals court considers whether to disqualify Fulton County District Attorney Fani Willis from prosecuting it over a previous romantic relationship she had with a prosecutor on her staff. Trump’s electoral win raises the possibility of more delays, and his lawyers are laying the groundwork to push for the case’s dismissal.FILE PHOTO: The Toronto Dominion (TD) bank logo is seen on a building in Toronto, Ontario, Canada March 16, 2017.
TD Bank guilty of money laundering
Two US subsidiaries of Canada’s second-biggest bank agreed last week to pay $3 billion US in fines, pleading guilty to conspiring to money laundering in the United States and giving the bank a huge black eye.
US regulators imposed an asset cap and other business limitations, unusual steps that underline the seriousness of the violations.
Senior executives at the bank joked about money laundering and failed to maintain controls to prevent criminals from using the bank during an aggressive expansion in the United States, the US Justice Department said.
The bank allowed one criminal based in Queens, New York, David Sze, to move more than US$470 million through TD over three years, depositing large amounts of cash into accounts opened by other people. Sze bribed bank officials while laundering revenue from narcotics and other illicit activities.
The decade-long failure to uncover illegal activity through the bank raises questions about the quality of oversight provided by its board, the Globe and Mail wrote on Wednesday.
TD CEO Bharat Masrani, who has announced plans to retire next year, has called the plea “a sad day in our history.”
TD’s dramatic failure in the United States highlights what experts see as longstanding failings in Canada’s regulatory regime regarding money laundering.