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Federal investigators often collect evidence for several years before pursuing a money laundering case. These investigations are lengthy to allow the prosecution to gather extensive evidence to ensure a conviction in federal court.
Contacting a criminal justice lawyer immediately is the only way to allow your lawyer time to build a solid defense strategy against these allegations.
What is the Definition of Money Laundering?
Money laundering is defined as disguising illegally earned income as legitimate financial assets. In simple terms, money laundering the act of taking ‘dirty’ money earned through criminal activity and making it appear ‘clean’.
What are Some Examples of Money Laundering?
Money laundering involves taking money earned illegally and placing it a financial institution. There are numerous illegal activities that could be disguised as legal earnings.
- Domestic/International Terrorist Groups
- Drug Trafficking
- Guns Trafficking
- Other Illegal Mean of Collecting Funds
Money laundering is achieved through several tactics, including smurfing, foreign exchanges, wire transfers, and/or investments.
What Federal Laws are Applicable for Money Laundering?
Money laundering has been illegal in the United States since 1986 and is defined under 18 U.S.C §§ 1956 and 1957. There are also other acts in place, including the bank secrecy act, that prevent money laundering from occurring.
Bank Secrecy Act
The Bank Secrecy Act was enacted in 1970 to combat money laundering in the United States. This act requires banks to comply with regulations regarding client bank accounts. Financial institutions are required to report any cash deposits over $10,000 (single or multiple transactions) to Internal Revenue Service (IRS).
What are the Possible Penalties for Money Laundering?
The Financial Crimes Enforcement Network works with other government agencies to prevent, investigate, and pursue cases of money laundering the United States. The penalties for money laundering will depend on several factors, including the other charges in the case, amount of money involved, and your criminal history.
A conviction for money laundering could result in a prison sentence of up to 20 years and fines of up to $500,000.
What Defenses Could Be Utilized for Money Laundering?
There are several different strategies that may be effective in fighting allegations of money laundering.
Common Defense Strategies May Include:
- The funds were not obtained illegally.
- The defendant was unaware that any illegal activities had occurred.
- The defendant was coerced into a money laundering scheme.
- The defendant is a victim of entrapment and was involved by force and/or intimidation.
The prosecution will need to prove that the defendant obtained funds illegally and knowingly participated, intentionally and willfully. Your criminal justice lawyer’s job is to create doubt within the courtroom. Any reasonable doubt can be enough to discredit the prosecution’s case and prove your innocence.
Why Should I Contact Experienced Federal Criminal Defense Lawyer Gregg Gallian?
Money laundering is a serious crime, and it will require an experienced criminal defense lawyer to beat these allegations. Gregg Gallian is a former federal prosecutor and has the knowledge and experience to fight for you against these allegations.
Gregg Gallian will review the circumstances of your case and use this information to build a solid defense case. Choose the best criminal defense lawyer to fight for you and contact Gregg Gallian today to discuss your case.