The amount of money laundered globally has increased significantly in recent decades. In response, the U.S. federal government and international law enforcement agencies have intensified their efforts and ability to stop the crime and arrest money launderers.
With resources and anti-money laundering initiatives on the rise, investigations and charges related to the white collar crime, in conjunction with drug trafficking, tax evasion, or gambling charges, have increased. These charges can often result in lengthy prison sentences as well as the seizure and potential forfeiture of cash and property.
If you have been accused of money laundering, you need an experienced federal defense attorney who understands the complicated financial, legal, and sentencing issues of money laundering cases and knows how to negotiate successfully with federal prosecutors. At Haas Law, we have the knowledge, investigative capacity, and federal court experience to defend you successfully against federal money laundering charges.
Money Laundering and Associated Offenses
In general, money laundering involves attempting to or actually engaging in the process of obscuring the source of money obtained. Typically, it means making money obtained illegally appear legal through a number of different financial and/or business transactions.
There are many federal laws against money laundering and the specific processes used to launder money. These include Money Laundering Control Acts, the Bank Secrecy Act, the Patriot Act, the Anti-Drug Abuse Act, and the Intelligence Reform and Terrorism Prevention Act.
The most common type of money laundering occurs when the money being concealed originates from criminal activity, such as drug trafficking. If your situation involves this type of activity, you could be facing money laundering and additional criminal charges. If you have not been involved in criminal activity that earns a profit but have used specific methods to hide income, you can still be prosecuted for money laundering and possibly also for tax fraud.
Tax evasion, the intentional underreporting of income, is often seen in cases involving money laundering, since people naturally don’t report the extra income from laundered money to the Internal Revenue Service. Sometimes federal prosecutors will pursue tax evasion charges rather than money laundering since it is easier to prove.
Another offense often associated with money laundering is insurance fraud. There are numerous schemes that involve fraudulently collecting large sums of money from insurance companies and then mixing that money with funds obtained from another source to launder the latter.
Defending Against Money Laundering Charges
If you are convicted of federal money laundering, you could face a prison sentence as well as forfeiture of assets. A typical prison sentence exceeds three years, but specific factors, including your history and the value of the laundered funds, can affect the length of the prison term. In addition, if the judge determines you were actually engaged in the business of laundering funds or engaged in sophisticated money laundering techniques, he or she can increase the sentence well beyond three years.
Because of the complexities in money laundering offenses and sentences, it is very important that you have an experienced, skilled federal defense attorney building a strong defense, negotiating with federal prosecutors on your behalf, and advocating for your rights.
Fight Money Laundering Charges with Help from an Experienced Federal Defense Attorney
At Haas Law, we are experienced in helping clients who are being investigated for money laundering or who have been indicted for federal money laundering crimes. We have the knowledge, skill and resources to defend you successfully and obtain the best possible outcome for your future.