Money Laundering

Money Laundering is the illegal act of disguising illegally gotten funds so that they seem legal.  Criminals accomplish this by concealing the source, identity or destination of the money.  The US Office of the Comptroller of the Currency further defines money laundering to mean a financial transaction, which generates an asset or a value as the result of an illegal act.  Such transactions include false accounting and tax evasion.  Money Laundering was primarily tied to organized crime in the past, but today it is most notably a crime used by terrorist organizations to cover the money trails that fund their organization along with large drug cartels.

To do this, terrorists and cartel members frequently perform a reverse flow of money laundering; instead of turning dirty money clean, they take clean money and convert it to ‘dirty’ purposes.  Additionally, by private entities, corrupt politicians, and corporations use money laundering to perpetrate a given financial picture to tax auditors, shareholders, or even the other members of their own organization.  Common types of laundering techniques employed by these entities may include creating a track record of clean money deposits to cover dirty money deposits, giving an amount of money to someone who routinely cashes clean money, and creating a business whose cash flow cannot be closely monitored.

Money Laundering Penalties

Being charged with the offense of Money Laundering falls under the categorization of a felony crime, and typically follows the laws of the Bank Secrecy Act of 1970 and the Patriot Act of 2001, which also featured legislation that specifically targeted terrorist money laundering operations.

Possible Penalties

• Federal imprisonment up to no more than twenty (20) years for a single count of money laundering
• Mandatory fines of $500,000, or in double the amount of money involved in the fraudulent transactions                              
• Seizure of business and personal assets

Money Laundering Sentencing

Money Laundering is a serious offence with real consequences. A judge may provide leniency to a defendant if they cooperate and provide information about a company or criminal enterprise involved in Money Laundering. A judge will also base his ruling off of the extent of the criminal intent, and what the laundered money was financing. IF charged with Money Laundering, it is important to seek immediate legal counsel to protect your rights and assets.

Hiring an Attorney for Money Laundering Charges

Money Laundering involves serious charges on a federal level.  Whenever a business or individual deals with large amounts of cash, there is also a chance for these charges to erroneously occur.  Being charged with money laundering means a defendant risks jail time, felony charges, and seizures of assets and businesses, thus it is imperative to have representative legal counsel when facing such a serious offense.

• If you need help with a Federal Criminal charge, Submit Your Case for a Free Review from a local Criminal Defense Lawyer.