If you have been convicted of money laundering, this means that you processed criminal proceeds, or money, to disguise its illegal origin. This means that you got money through an illegal source, typically huge amounts of proceeds that stem from things like drug trafficking, illegal arms sales, and more. Money laundering is a huge problem that brings in large amounts of cash each year. In fact, in 2009, over 1.6 trillion dollars was thought to be the result of money laundering. It has a negative impact on businesses, economic development, and society as a whole.
Spending and Concealment: How it Differs
When you have money laundering, you have money being concealed. If you merely spend stolen money, you are not laundering any money. If you are going to be convicted of money laundering, this means that you had to have tried to conceal or disguise where they money came from. The prosecutor in your case must be able to show that you tried to conceal where the money came from if you have been charged with this serious crime. They must also be able to show that criminal activity led to you receiving these funds, or else laundering didn’t exist.
Penalties for Money Laundering
- Prison Time: In many cases, you will find that your money laundering crime is a felony and not a misdemeanor. Because of this, you could spend a year or more in prison. If your crime was part of an ongoing criminal enterprise, you may find yourself spending decades in prison.
- Fines: Depending on the severity of your money laundering, you could see fines of up to $500,000!
- Probation: Typically, probation sentences last more than a year for these very serious crimes. Probation can include meeting with a probation officer, having home checks, and much more.
No matter the crime you are being charged with, we will be there for you. At The Law Office of Peter Blair, we understand the laws regarding your case and can help you every step of the way. If you have been charged with money laundering, give us a call today.