Charged with Felony Money Laundering
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Money Laundering is a term that applies to any financial activity where the proceeds or money that is received or handled comes from some form of illegal activity. Increasingly, these felony charges are being used as a tool by prosecutors to pile on additional charges against anyone who receives or transfers money or items of value that are proceeds of illegal activity or which can be traced to some kind of illegal activity. Money laundering is a serious crime. Generally speaking, felony Money laundering process of taking dirty money – money that was derived from unlawful activities, and concealing, disguising or otherwise be made to appear lawful in order to avoid detection, prosecution, seizure, forfeiture and taxation. Money laundering can be ancillary to other criminal charges such as Medicare health care fraud and mortgage fraud.
Because of money laundering underworld links to financing international terrorism, state and federal Money laundering prosecutions have increased in the days since 911. In order to ferret out illegal financial activities, federal and state lawmakers have enacted anti Money laundering laws to track and detect large sums of dirty cash entering legitimate business channels. If you or someone you know has been charged with Money laundering, you need serious legal representation from a Board Certified Criminal Trial Lawyer with courtroom experience who is familiar with the anti Money laundering statutes. You need attorney affiliated with Wise Laws fighting for you.
Concealing the true source of funds deposited in a bank account or invested in a business, failing to report cash transactions over $10,000 or structuring transactions to conceal their aggregate value, or failing to perform due diligence to determine the source of large amounts of money are some examples of Money laundering.
Examples of Felony Money Laundering
- Felony Medicare Fraud
- Felony Drug Dealing
- Financial Fraud (Bank, Mortgage, Insurance Fraud)
- Felony Racketeering Activity (bribery, tampering, piracy, smuggling, contraband)
Possible Penalties for Money Laundering These felony offenses are serious and usually carry a maximum jail sentence have from anywhere between ten (10) to twenty (20) years in prison depending upon the amount of money involved. Additionally, money-laundering charges usually bring forfeiture actions in tandem with the criminal charges, which seek to recoup amounts as substitute assets for the laundered proceeds, which may place legal or clean money, or assets, including real estate or other legitimate investments at risk.
If you believe that you may be looking at a money laundering charge because of some kind of activity in which you played a role, even a minor role, you must know where you stand. In this arena, knowledge is power.