SUMMARY: Leonardo Ayala, a former TD Bank employee in Florida, was arrested for allegedly facilitating money laundering for drug cartels. Ayala used his position to help launder millions of dollars, including over $1 million to Colombia via ATM withdrawals. This follows TD Bank’s $3 billion fine for inadequate anti-money laundering measures, which allowed cartels to transfer over $670 million. Ayala faces up to 20 years in prison if convicted. The arrest reflects increasing concerns over cartels’ use of U.S. banks for laundering proceeds from drugs like fentanyl. TD Bank has pledged to improve its monitoring procedures.

Read the full article

The post Former Florida TD Bank employee charged in cartel money laundering scheme appeared first on www.abcactionnews.com

SUMMARY: Florida state representative Susan Valdez has switched from the Democratic to Republican Party, citing a desire to better serve her community and participate in the Republican supermajority in the legislature. Valdez, reelected just last month, expressed frustration over being overlooked by her former party’s leadership. While most constituents seem indifferent to her party change, some criticize it as political opportunism, arguing that she should have consulted her community first. Valdez, who previously served on the Hillsborough County School Board, aims to focus on addressing real issues, aligning with House Speaker’s vision for empowering members.

Constituents are divided over Representative Susan Valdes’ surprise political party switch from the Democratic party to the Republican.

Source

SUMMARY: A report by the Florida Auditor General found an increase in financial mismanagement and noncompliance with state law in 2022-2023 audits, compared to the previous year. Of 1,874 audits, 298 governmental bodies had 585 significant findings, a 13% increase from 2021-2022. Key issues included internal financial control weaknesses, budget and accounting problems, and noncompliance with legal requirements. However, repeat violations decreased by 6%. Notably, 22 entities were cited for deficiencies related to federal awards, and two organizations, the Leon County Educational Facilities Authority and SWI Community Development District, faced financial concerns regarding their viability.

Read the full article

The post Year-end report finds growing number of significant findings in audits | Florida appeared first on www.thecentersquare.com