Someone investigated for a money laundering charge is suspected of taking money from criminal activity and making it seem like it came from a legal and legitimate means. Attorney David Tarras from the Rossen Law Firm explains the money laundering charge elements, penalties, & defenses.
Chapters:
1:26 Money Laundering Charge Explained
2:33 Money Laundering Penalties
3:58 Money Laundering Defenses
4:30 Money Laundering Elements
What is Money Laundering? People typically associate money laundering with massive schemes involving large sums of money that are hidden in offshores accounts or funneled through a fake business. People even use phrases like "cooking the books" to refer to the dishonest practices accountants take to make it seem like money came from legitimate business means.
Money Laundering is an illegal federal-level offense where an individual takes money obtained through illegal means (e.g. drug trafficking, tax evasion, weapons trafficking, etc) and makes it seem like the money was obtained legally by falsifying information like tax or accounting records.
The term "washing money" specifically refers to the process where a suspect makes money seem as if it came from a legal means. Funneling the money into a fake business "washes" the money clean from its illegal origins. That is why other imagery associated with money laundering include washing money with soap or putting money into a laundry machine because money laundering is when an individual takes "dirty money" and makes it "clean".
The two types of money laundering is promotional money laundering and concealment money laundering. Promotional money laundering takes place when the funds from one illegal activity is laundered and then used to fund another illegal activity. Concealment money laundering occurs when the proceeds of illegal activity are collected for use.
Money Laundering carries penalties of up to 30 years in federal prison. This federal crime is usually investigated by the U.S. Department of Justice. It is then prosecuted by the U.S. Attorney's office.
There are a few elements that U.S. prosecutors must prove in order to convict a suspect for a Money Laundering charge. There needs to be
1) Money obtained illegally
2) Money misrepresented to appear legally obtained
3) Criminal intent to obtain the money illegally and misrepresent its origins
It is not enough to convict just because it seems as if money was moved illegally. A Federal Defense Attorney can shield an individual by poking holes in the prosecution's case by arguing that there is not evidence of the crime taking place beyond and to an exclusion of all reasonable doubt.
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If you or a loved one is suspected of committing federal money laundering, our federal defense attorneys can help. Contact the Rossen Law Firm to schedule a free strategy session to go over the facts of the case and develop a plan of attack.
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