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.
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.
The lawsuit also names as defendants 25 associated corporations, five directors of those companies and StateView’s former chief financial officer Daniel Ciccone.
TD alleges the defendants wrote thousands of bad cheques for large sums of money from both corporate and
