Welcome to the website for the TD Victim Compensation Fund.
Overview
The United States, Department of Justice, Criminal Division, Fraud Section (the “Fraud Section”) is initiating a victim compensation process to return funds to eligible victims of frauds allegedly perpetrated by TD Securities (USA) LLC (“TD”). The victim compensation process is overseen by the Fraud Section. Epiq Class Action & Claims Solutions, Inc. (“Epiq”), serves as the Victim Compensation Administrator for this matter.
Failure to return a complete Petition form and include the required documentation by the deadline, January 29, 2026, may result in your exclusion from the distribution group. The petition filing deadline has been updated to February 27, 2026.
Background
On September 29, 2024, TD Securities (USA) LLC (“TD”) entered into a deferred prosecution agreement (DPA) with the Fraud Section to resolve criminal charges concerning a scheme to defraud involving hundreds of episodes of unlawful trading in the secondary (cash) market for U.S. Treasuries.
Pursuant to the DPA, TD admitted to knowing acts of spoofing and layering, between April 3, 2018, and May 14, 2019, for U.S. Treasuries Products including but not limited to five-year U.S. Treasury notes, ten-year U.S. Treasury notes, and 30-year U.S. Treasury bonds. At times during the spoofing and layering scheme, TD provided a false impression of supply and demand to other market participants trading U.S. Treasuries Products. In this way, TD allegedly manipulated and artificially increased or decreased the market prices of U.S. Treasuries Products with the intent to benefit itself. A charge is merely an accusation, and all defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.
The Frequently Asked Questions page of this website has more information on your rights as a Victim in this Action.