To put it simply, money laundering is the process of entering into a financial transaction with illegally obtained money for the purpose of either concealing or promoting the illegal activity. If you’re facing charges, immediately speak with a money laundering attorney.
Facing money laundering charges? Unhappy with your current attorney? Request a free consultation now.
Some common methods of money laundering include:
- Bank fraud
- Transferring a title of real property
- Purchasing casino chips with cash, then immediately cashing them in for a check
- Under- or over-valuing invoices in an attempt to disguise the movement of the illegally obtained money
Proving Money Laundering
In order for a prosecutor to prove the crime of money laundering, they must show that you knowingly engaged in a financial transaction with illegally obtained money for the purpose of concealing or disguising the illegal source of the money.
Money laundering has been a federal crime since the passing of the Money Laundering Control Act of 1986.
It’s important to understand that there’s no minimum monetary threshold or requirement that the transaction you attempt to make actually succeeds in hiding the money.
In fact, the term “financial transaction” has been so broadly defined that simply handing money to another person in an attempt to hide where it came from or who it belongs to will result in a money laundering charge.
Defenses and Penalties for Money Laundering
A money laundering conviction is a 20-year felony and carries a fine of up to $500,000 or twice the value of the property in the transaction.
Forfeiture of assets is also a possibility.
One of the most common defenses to a money laundering charge is lack of knowledge of the illegal activity.
At The Law Offices of Barton Morris, our Michigan money laundering team has decades of successful experience in this complex area of law.
We can expertly guide you throughout every stage of the criminal process while helping you make sound legal decisions.
You can trust us to provide you with the strong representation you deserve.
Facing money laundering charges? Unhappy with your current money laundering attorney? Request a free consultation now.