Money laundering statutes make it a crime to transfer money derived from almost any criminal activity into seemingly legitimate channels, in an attempt to disguise the origin of the funds. 18 U.S.C. § 1956 provides punishment for whoever, knowing that the property involved in a financial transaction represents the proceeds of some form of unlawful activity, conducts or attempts to conduct such a financial transaction which in fact involves the proceeds of specified unlawful activity. If convicted of money laundering you may be facing fines of up to $500,000 or twice the value of the property involved in the transaction, whichever is greater, and/or imprisonment for up to twenty years.
Money laundering criminal charges are often associated with other type of federal crimes, such as drug trafficking, and other issues that involve organized criminal activity. This type of crime is usually a complex and time-consuming federal offense that involves taking money which was illegally obtained and to make it appear that the source was legitimate. It can be achieved through a number of complicated financial transactions and transfers.
Money laundering normally involves several steps to complete. First, money is placed into some type of financial institution. Next, a series of complex financial transactions are completed to conceal any type of paper trail. Finally, integration of the "clean" money is placed back into society by concealing the money in a legal financial transaction.
This is considered a federal crime that is punishable by time in prison and large fines. If you have been arrested for this type of crime, you will need a skilled attorney to have any chance of avoiding a conviction.
Contact a defense attorney at Eisner Gorin LLP today, if you or a member of your family are facing allegations of money laundering. Federal charges usually means the involvement by large federal agencies that have virtually unlimited resources to pursue a conviction. It also means they will conduct a lengthy investigation where they will have a chance to find extensive evidence against you. By working with our law firm immediately, your chances for a positive outcome to your case are greatly increased. Call our law firm at (877) 781-1570 for your free face-to-face consultation.