IMPORTANT TO NOTE: While we will remain open to meeting in person, in response to COVID-19, we are offering clients the ability to connect via telephone or video conference should they prefer. Please call the office to discuss your options further.

Assertive Representation In State & Federal Court

What must be shown to prove money-laundering?

On Behalf of | Dec 22, 2017 | White Collar Crimes

When a prosecutor is charging an individual with committing a white-collar crime, they must prove all the elements of the crime were committed by the person being accused of it. Different crimes have different intent requirements that must be fulfilled and, if they are not, the crime cannot be proven. For example, a string of judgments in 2008 clarified the requirements of the federal crime of money laundering.

Money laundering is a financial crime. In an effort to hide the identity, source and destination of money that was obtained illegally, the financial transaction scheme that is concocted is referred to as money laundering. It involves an illegal activity through which the money reaches the suspect’s hands, then the scheme of financial transactions the money goes through to hide the identity of the person who received the money and finally the return of the money in an indirect way into the suspect’s hands.

Tax evasion is a common example of money laundering, as is false accounting practice. Beauty salons and plumbing companies are often suspected of facilitating money-laundering activities. The Money Laundering Control Act of 1986 declared money laundering a federal crime, but the 2008 judgments clarified that money has been concealed for the purpose of concealing the ownership, source or control of the money and not any other purpose. Additionally, the case must revolve around criminal profits and not criminal receipts.

Understanding the law relating to the white-collar crime charges one faces is an essential component of being able to defend oneself aggressively and effectively. It may also be beneficial to consult an experienced attorney to review the case and ensure one’s rights are not being infringed.

FindLaw Network