Arenstein & Gallagher
Aggressive Criminal Defense Counsel In Cincinnati
Call Today 513-823-3012 Text Us 513-432-5421
Areas & Topics

money laundering & embezzlement Archives

Ohio man accused of money laundering from nonprofit

When a person is accused of a white-collar crime, they may think that the situation is not too serious. However, nothing could be further from the truth. Prosecutors in Ohio will not go easy on those they accuse of committing a white-collar crime, and will prosecute them to the full extent possible. Therefore, those accused of white-collar crimes should take all the steps necessary to defend themselves, as one Ohio man may soon need to do.

What is money laundering?

The topic of money laundering has come up often in the news lately, but what is money laundering? Many Ohio residents may not be aware that it is a crime to conceal the identity, source or the destination of money. For example, banks and various types of financial institutions are required to report financial transactions over a certain amount.

The elements of money laundering in Ohio

We see it in the movies all the time. Individuals obtain money illegally, often through drug transactions, then they must find a way to "clean" it so that the authorities cannot trace that money back to illegal operations. This is often done by setting up a front business that is legitimate, then falsifying records to make it appear that the illegally obtained funds were obtained through legal means. Under Ohio law, such actions are illegal. However, those who have been accused of these crimes may want to look at the actual law to obtain a better understanding of what prosecutors must show before they can obtain a conviction.

What is a Ponzi Scheme?

Investing other people's money is a risky job to engage in, as many Cincinnati residents might be aware of. Not only does one have to worry about getting people the return they were promised, but one also has to make those returns consistently, which is often not possible. In order to ensure that people are getting their promised returns, some investors might take some extreme steps that could end up turning into financial fraud.

Were you accused of money laundering? Do not get hung out to dry

If you work in the financial industry, you might become an unwitting and unwilling participant in a money-laundering scheme. Criminal organizations often turn to financial advisers to "wash" their money obtained through criminal activity. An investigation by either Ohio or federal authorities could result in your arrest, even if you did not know your clients used your expertise to launder their ill-gotten gains.

Contact

Arenstein & Gallagher
114 E. 8th St
Cincinnati, OH 45202

Phone: 513-823-3012
Phone: 513-432-5421
Fax: 513-651-5688
Map & Directions

No matter how complicated things became, or how many backwards steps had to be taken, Bill Gallagher fought for me and for my future.

- David, a former client

Thank you very much for helping me prove my innocence. I appreciate everything you did for me.

- H.F., a former client


Review Us