What Are My Options if I Am Facing Money Laundering Charges?

 Posted on August 28, 2020 in Criminal Defense

Money laundering is a term used to describe the act of hiding funds that are obtained through criminal activities. It is a criminal offense that is prosecuted by the state and federal government and punishable by steep fines and significant prison sentences. If you or a loved one has been charged with a criminal offense related to money laundering, contact an experienced federal criminal defense attorney right away. Do not speak to the police without your attorney present. Take advantage of your Constitutional right to avoid self-incrimination by remaining silent and asking for your lawyer right away.

U.S. Federal Money Laundering Laws

The term “money laundering” refers to the process of making illegally obtained or “dirty” money appear legitimate or “clean.” If you concealed or attempted to conceal profits from a crime, you may be charged with offenses related to the crime as well as the offense of money laundering. For example, if you received money from selling illicit drugs and then funneled those profits into your small business, you may face charges for drug distribution as well as money laundering. Money laundering typically involves three main steps. First, the cash obtained from the unlawful sources is disguised as money from a legitimate business or another lawful source. Next, the origin of the funds is obscured so that it is difficult for law enforcement to determine the original source. Lastly, the laundered funds are reintroduced or integrated into the economy -- often through financial institutions.

Penalties for Money Laundering

The punitive consequences associated with a money laundering conviction vary significantly depending on the amount of money allegedly laundered. However, money laundering is always a felony offense. According to Texas law, if the amount of money laundered is between $2,500 and $30,000, the defendant faces a state jail felony. If the amount of laundered money is between $30,000 and $150,000, the defendant faces up to 10 years in prison and a maximum $10,000 fine. If the amount of laundered money is between $150,000 and $300,000, he or she faces up to 20 years’ imprisonment and a $10,000 fine. Lastly, if the amount of money allegedly laundered is greater than $300,000, money laundering is a first-degree felony punishable by a $10,000 fine and 5-99 years in jail.

Contact a Fort Worth Criminal Defense Lawyer

A conviction for money laundering is taken seriously in the United States, and it can cost you your freedom. If you have been charged with money laundering or any type of criminal offense, contact the knowledgeable legal professionals at The Crowder Law Firm and start building a strong defense as soon as possible. Attorney Darlina Crowder has secured hundreds of not-guilty verdicts and acquittals during her career. To schedule a free, confidential consultation with an accomplished Tarrant County federal criminal defense attorney, call our office today at 214-544-0061.

Sources:
https://www.fincen.gov/history-anti-money-laundering-laws
https://statutes.capitol.texas.gov/Docs/PE/htm/PE.34.htm