TD Bank moves to seize home of Russian-Canadian jailed for smuggling tech to Kremlin

TD Bank is moving to seize the Quebec home of a Russian-Canadian convicted in New York for conspiring to secretly ship over $10 million in restricted electronics to the Kremlin for use in weapons systems in the Ukraine war, according to Global News.

Toronto-based TD has filed a 60-day notice of its intention to foreclose on the Ste. Anne-de-Bellevue residence of Nikolay Goltsev, 38, who is currently in jail in New York awaiting sentencing.

City of Montreal property assessment records indicate that the home, which Goltsev shared with his wife Kristina Puzyreva until their arrests in 2023, has a market value of $848,800.

The foreclosure action by TD comes as the bank is negotiating with U.S. authorities to pay penalties for multiple money-laundering lapses and announced plans for its CEO to retire and be replaced in 2025.

U.S. officials have accused TD’s American affiliate of having lax anti-money-laundering controls that allowed criminals to use the bank for illicit activities.

In one case, a TD USA banker in Florida was allegedly involved in a bribery scheme related to money laundering for a drug trafficking ring. The bank is also under investigation for its role in money laundering by Chinese crime groups and drug traffickers.

TD Bank corporate spokesperson Elizabeth Goldenshtein declined to discuss the specifics of Goltsev’s case or the bank’s foreclosure action on his Quebec home.

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Goldenshtein stated that the case is not related to TD’s ongoing anti-money laundering matters in the U.S.

Goltsev entered a guilty plea in July and faces sentencing in December. He has agreed to forfeit assets and may be deported from the United States.

TD Bank has initiated foreclosure proceedings on Goltsev’s home in Quebec due to outstanding debt on a mortgage.

Goltsev signed the mortgage with a TD Montreal branch to buy the home in 2015.

Goltsev has failed to make payments since TD cancelled the HELOC portion of his loan and demanded full repayment, according to the foreclosure notice.

A bailiff served the notice on Goltsev’s mother-in-law, who was residing in the home when visited by Global News.

Goltsev’s wife, Kristina Puzyreva, was also charged in the smuggling scheme and has been sentenced to two years in jail.

TD Bank has given Goltsev’s family 60 days to vacate the home or face eviction.

City of Montreal property assessment records indicate the home has a current market value of $848,800.

Goltsev and Puzyreva, along with other members of their scheme, were involved in purchasing restricted technology components for military use. The group coordinated shipments of electronics to Russian defense contractors.

Prosecutors collected evidence showing that the electronics shipped by Goltsev were used in Russian military equipment like attack helicopters and battle tanks.

More electronic parts were found in missile defense systems and intelligence equipment.

Puzyreva was responsible for managing bank accounts and conducting financial transactions for the group.

Goltsev faces a maximum of 20 years in prison and is awaiting sentencing in December.