Money Laundering Charges

Money Laundering is the act of “cleaning money” is order to conceal the identity, origins, and/or the destination of illegal funds. The charge is commonly associated with white collar crimes such as false accounting or tax evasion Money Laundering, as defined by U.S. law, occurs in three stages:

1. Placement - the original point of origin for moneys derived from illegal activities.
2. Layering - multifaceted systems of transactions attempting to cloak the connection between the original origin of funds, and the end of the laundering process.
3. Integration - the return of moneys to the economy for later withdraw.

In 1986, the Money Laundering Control Act was passed making money laundering a federal crime. The statute states that anyone who conducts or attempts to conduct financial transactions which involve specified illegal activity, with intent to encourage continued illegal activity, will result in penalties of not more than $500,000 or twice the value of the property, whichever greater, or imprisonment for a period not to exceed twenty years, or both.

If you or a loved one has been accused of alleged money laundering, contact money laundering defense attorney John Teakell for your 100% free consultation by submitting your information here.