Money laundering is the process of intentionally disguising the proceeds of illegal activities, such as drug trafficking, corruption, or fraud, to make them appear to have come from legitimate sources. This is done by moving the money through a series of transactions or investments that conceal its origin and ownership. Money laundering aims to make the illegal proceeds usable without detection by law enforcement or financial institutions. This is typically accomplished by moving the money through a series of transactions or investments.
The level of offenses goes all the way up to a first-degree felony, essentially tracking the levels and punishment ranges of the theft section of the penal code.
State-Prosecuted Money Laundering: Smaller-scale money laundering offenses prosecuted by the state can be punishable by 180 days to two years imprisonment and a fine of up to $10,000.
Federally Prosecuted Money Laundering: Federal prosecutions usually involve larger-scale criminal enterprises or acts that cross state or international borders. Large-scale money laundering offenses prosecuted at a federal level can be punishable by up to 20 years in federal prison and fines of up to $500,000 or twice the value of the property involved in the transaction, whichever is greater.
With the serious consequences that come with a money laundering conviction, you need legal counsel that is experienced in both state and federal criminal cases as soon as possible. To discuss your options, call our office at (806) 372-5711.