Federal Money Laundering Allegations Defined

 Posted on February 27, 2017 in Federal Crimes

Chances are, if you have been accused of a money laundering crime, you were already aware of the seriousness of the crime before the allegations were filed against you, as it is an activity that has existed for many years. It has been heavily prosecuted, with ramifications that are far-reaching, wielding power to impact countless individuals and organizations, depending on the severity of the offense. This is because money laundering is not a simple, petty crime; it consists of many complex layers and often has a chain-reaction effect that leaves trails of damages.

If you are being accused of laundering activity, here are some steps to take:

Determine Whether Your Activity Is Considered Money Laundering

Laundering is categorized as a federal crime, meaning it is an illegal act according to U.S. legislation, prosecuted in federal courts. Money laundering acts range from health care fraud and human trafficking to narcotics trafficking and international and domestic public corruption. The FBI describes laundering as a process by which criminals conceal their earnings by somehow making the proceeds appear to come from a legal, legitimate source. This allows them to hide and accumulate large sums of money, giving them the ability to dodge prosecution and evade taxes. In short, they utilize these various activities to both generate and conceal the money they make.

Understand the Purpose of the Laundering Cycle

By concealing proceeds, money launderers have the opportunity to fund more criminal activity and further increase their profits by making more financial investments. Real estate, virtual currency, and international trade are just a few of the overwhelming number of methods used to generate proceeds. If the activity you are engaging in involves making “dirty” money “clean”, then you are likely involving yourself in a laundering scheme. Due to the large, diverse number of schemes that exist, it is not uncommon for individuals to get drawn into one without fully understanding exactly what they are participating in, or what the nature of the crime really entails.

What You Need to Know if You Are Accused

Depending on the type of laundering transactions you are accused of, you may face a range of penalties for the allegations brought against you. If this is your first time being accused of money laundering involvement, keep the following in mind:

• You may be tried in any county where any part of the financial transaction took place or in any county where the money surrounding the offense was acquired, used, sold, transferred, or distributed.
• You should speak with a professional first. Whenever you are accused of a crime, it is crucial to consult with an attorney who has experience and knowledge in the area of your offense before you make statements to the authorities or to anyone else who questions you.

If you are concerned you have been roped into a laundering scheme and are afraid it is too late, do not wait to talk with a qualified Chicago federal criminal lawyer. A professional can help protect your rights as soon as possible. Call the Law Offices of Hal M. Garfinkel LLC, Chicago Criminal Defense Attorney at 312-629-0669 for a personal consultation today.

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