An Effective Defense
Money laundering is a serious federal crime often tied to complex financial transactions and additional criminal charges, such as drug trafficking, fraud, or organized crime. Federal authorities actively pursue money laundering cases and have vast resources to investigate and prosecute alleged offenders. At the Law Offices of Peter Katz, we understand the intricacies of federal money laundering laws and are committed to providing thorough, effective defense for clients facing these charges.
What is Money Laundering?
Money laundering occurs when someone earns large amounts of money (also known as “dirty money”) from criminal activity and then attempts to hide the funds’ source, amount, or destination. Examples of criminal activity include drug trafficking and embezzlement. The goal of concealing the true origins of the money is to make it appear to authorities that the funds came from lawful sources.
Some helpful money laundering definitions are:
- Financial transaction: Title 18 U.S.C. Section 1956(c)(4) defines “financial transaction” as one that affects interstate or foreign commerce and involves the movement of funds by wire or other means and the use of a monetary instrument.
- Specified unlawful activity: Title 18 U.S.C. Section 1956(c)(7) defines specified unlawful activity as a wide range of crimes, including embezzlement, bribery, and health care fraud.
- Money instrument: Defined under Title 18 U.S.C. Section 1956(c)(5), a money instrument includes U.S. or foreign coin or currency, traveler’s checks, personal checks, bank checks, and money orders investment securities or negotiable instruments such as promissory notes.
If funds were transferred or interstate or international communication allowed or facilitated money laundering, related charges, such as wire fraud, may also be introduced in your case.
Types of Federal Money Laundering Charges
Money laundering is the process of concealing the origins of illegally obtained funds. Federal law, specifically the Bank Secrecy Act and the Money Laundering Control Act, criminalizes various forms of laundering, including:
- Placement, Layering, and Integration: These are the typical stages of money laundering. In these stages, funds are moved, disguised, and reintegrated to appear legitimate.
- Structuring Transactions: This practice, known as “smurfing,” involves breaking down large sums into smaller transactions to evade federal reporting requirements.
- Using Shell Companies: Creating or using businesses solely to funnel illegal funds is a standard method of laundering money.
In federal money laundering cases, prosecutors may attempt to link financial transactions with alleged criminal activity, often resulting in additional charges that can complicate defense efforts.
Relevant Money Laundering Statutes
The two primary money laundering statutes are Title 18 U.S.C. Sections 1956 and 1957:
Title 18 U.S.C. Section 1956: Under this provision, one must conduct or attempt to conduct a financial transaction knowing that the property involved in the monetary transaction derives from some form of unlawful activity. The government must prove each of the following elements beyond a reasonable doubt:
- A defendant knowingly conducted or attempted to conduct a financial transaction.
- The defendant knew that the property involved in the financial transaction represented the proceeds of some form of unlawful activity.
- Any property in the financial transaction involved the proceeds of specified unlawful activity.
- The defendant engaged in the financial transaction knowing that it was designed, in whole or in part, to conceal or disguise the nature, location, source, ownership, or control of the proceeds of the specified unlawful activity.
Title 18 U.S.C. Section 1957: One violates this statute if they knowingly engage or attempt to engage in a monetary transaction exceeding in criminally derived property valued at over $10,000. The government must prove each of the following elements beyond a reasonable doubt:
- The defendant knowingly engaged or attempted to engage in a monetary transaction.
- A defendant knew that the transaction involved criminally derived property.
- The criminally derived property’s value was more significant than $10,000.
- Any criminally derived property was derived from a specified unlawful activity.
- The monetary transaction occurred in or outside the United States, and the defendant is a U.S. citizen.
Money laundering charges often engender other charges – often conspiracy – even if a crime was not committed.
Potential Penalties for Money Laundering Convictions
Money laundering is a serious criminal offense with harsh penalties, such as lengthy prison terms and fines. If you or someone you know is facing a money laundering allegation or charge, having an experienced legal counsel advocate can make a meaningful difference in the courtroom.
Money laundering convictions come with harsh penalties, including:
- Lengthy Prison Sentences: Convictions can lead to prison sentences of up to 20 years per count, with additional time added for related offenses.
- Severe Fines: Depending on the scale of the offense and its financial impact, the fine for money laundering can reach $500,000 or more.
- Asset Forfeiture: Federal authorities can seize assets, including bank accounts, properties, and vehicles, believed to be involved in money laundering schemes.
- Professional and Financial Restrictions: Convictions may result in employment bans in financial or regulatory sectors, affecting one’s livelihood and career prospects.
With such high stakes, it’s essential to approach money laundering charges with a well-prepared and informed defense.
Defending Against Money Laundering Charges
At the Law Offices of Peter Katz, we provide comprehensive defense strategies for federal money laundering cases, focusing on safeguarding our clients’ rights and futures. Our approach includes:
- Challenging Financial Evidence: We scrutinize financial records and transaction histories to identify errors, misunderstandings, or unsupported conclusions in the prosecution’s case.
- Establishing Legitimate Sources of Income: We work to demonstrate that funds are derived from lawful sources, contesting claims that they are linked to criminal activities.
- Questioning the Government’s Investigation Process: We analyze law enforcement procedures, including evidence collection, to identify potential rights violations or procedural errors.
- Working with Financial Experts: Money laundering cases are complex and often require expertise in financial transactions. We collaborate with experts to build a strong defense.
How We Can Help with Money Laundering Charges
Money laundering defense requires specialized knowledge of financial transactions, regulatory frameworks, and criminal law. At the Law Offices of Peter Katz, we bring experience and dedication to each case, ensuring that our clients receive a tailored defense strategy. When you work with us, you can expect:
- Expertise in Money Laundering Laws: Our firm understands the federal statutes that govern money laundering and the nuances of defending complex financial cases.
- Customized Defense Plans: Every case is unique, and we develop personalized defense strategies to address your specific circumstances and goals.
- Open Communication and Support: Facing money laundering charges can be overwhelming. We provide transparent, ongoing communication to ensure you are informed and comfortable with your defense strategy.
- Strong Advocacy: We understand the impact a money laundering conviction can have on your life, and we are committed to protecting your rights, assets, and future.
Protecting Your Rights and Financial Future
Early legal intervention is critical if you are facing federal money laundering charges. At the Law Offices of Peter Katz, we are prepared to support you through every stage of the case, from investigation to trial, if necessary.
Contact us today for a confidential consultation to discuss your case and learn how we can help. With our experience in federal money laundering defense, you can trust that we will handle your case diligently and focus on achieving the best possible outcome.