What Should I Do if I Am Being Investigated for Money Laundering?

 Posted on December 30, 2019 in Criminal Defense

You may be surprised to learn that an estimated 2 to 5 percent of the global gross domestic product (GDP) is represented by money that is laundered across international borders. The criminal offense of money laundering occurs when a person conceals the identity, source, or destination of money that has been acquired unlawfully. Both state and federal laws prohibit money laundering. If you are being investigated by a federal government agency for possible money laundering, it is imperative to seek help from a qualified criminal defense attorney as soon as possible.

Federal Money Laundering Charges

It is important to note that money laundering involves the concealment or attempted concealment of profits from criminal activity. If you sold an expensive diamond ring and then failed to report that money to the IRS, for example, this may be in violation of tax law, but it is not money laundering. Furthermore, the United States Supreme Court mandates that federal money laundering laws do not apply if an individual is only making money from a crime but not hiding it. For example, if a criminal defendant runs an illegal lottery, he or she is receiving money from a crime, but this does not constitute money laundering if he or she does not hide the proceeds. A conviction for money laundering requires prosecutors to prove beyond a reasonable doubt that the defendant is concealing profits from the illegal activity.

Penalties for Money Laundering

If a person is convicted of money laundering under Texas law, it is a felony punishable by jail time and stiff fines. Prison sentences depend on the amount of money that was laundered. If a person is convicted of laundering $1,500 to $20,000, they could be incarcerated for up to two years. If he or she is convicted of laundering more than $300,000, this is a first-degree felony punishable by up to 99 years in prison. If the federal government is bringing money laundering charges, the penalties can include up to several decades in jail and extremely high fines. As with the majority of federal crimes involving illegal financial transactions, the sentence a person faces for federal money laundering is primarily determined by the amount of money involved in the criminal offense.

Contact a Dallas Criminal Defense Lawyer

Being convicted of money laundering can cost you your freedom. If you are facing money laundering charges, you need an aggressive attorney to fight on your behalf. Plano, Texas white collar crimes attorney Darlina Crowder has obtained more than 300 not guilty verdicts and acquittals for clients during her career. To learn more about how the Crowder Law Firm, P.C. can help defend against state or federal money laundering charges, contact our office today. Call 214-544-0061 to schedule a free, confidential consultation.

Sources:
https://statutes.capitol.texas.gov/docs/PE/htm/PE.34.htm
https://www.unodc.org/unodc/en/money-laundering/globalization.html
https://www.justice.gov/jm/criminal-resource-manual-2101-money-laundering-overview