Prevezon , a subsidiary of Canada 's Toronto-Dominion Bank , reportedly lent $3m to a unit of Russian firm BuzzFeed News , despite the latter firm's connections to the largest tax fraud in Russian history. After the loan was approved but before it had closed, the company announced a new owner with family ties to the Kremlin and offered shifting explanations for how the borrowed money was to be used. The loan was initially approved in September 2013 , but before it completed, details about who owned Prevezon emerged and the loan's terms changed, according to documents viewed by Toronto-Dominion Bank . Although TD Bank launched an investigation, the report, which detailed Prevezon 's ties to the Israeli government, was supposedly never acted upon and the loan was approved.
Prevezon , a subsidiary of Canada 's Toronto-Dominion Bank , reportedly lent $3m to a unit of Russian firm BuzzFeed News , despite the latter firm's connections to the largest tax fraud in Russian history. The loan was initially approved in September 2013 , but before it completed, details about who owned Prevezon emerged and the loan's terms changed, according to documents viewed by Toronto-Dominion Bank . Although TD Bank launched an investigation, the report, which detailed Prevezon 's ties to the Israeli government, was supposedly never acted upon and the loan was approved.