Federal Money Laundering Attorney

What Is Money Laundering?

The proceeds of criminal activities, such as drug trafficking or illegal gambling, are considered “ill-gotten gains.” The problem with “ill-gotten gains” is that they present a problem if you want to deposit large sums into a bank because most countries, including the United States, track large deposits. If you cannot provide a legitimate source for the cash, it raises serious questions for law enforcement agencies. To get around this problem, money is “laundered” or “cleaned.” 

Money laundering effectively turns money derived from criminal activity into money that can be declared, deposited, and spent. The UN Vienna 1988 Convention Article 3.1 describes money laundering as:

“the conversion or transfer of property, knowing that such property is derived from any offense(s), for the purpose of concealing or disguising the illicit origin of the property or of assisting any person who is involved in such offense(s) to evade the legal consequences of his actions”.

Sophisticated money laundering schemes often involve three stages: placement, layering, and integration. These stages allow illegally acquired money to enter the financial system, go through a layering process to disguise the source of the funds, and eventually be spent as “clean” money. Cash-heavy businesses, such as nightclubs or laundromats, are frequently used during the layering process because it is easy to add ill-gotten gains to the business’s profits. 

What Should You Do If You Are the Target of a Money Laundering Investigation?

Money laundering is considered a “white collar crime,” meaning a crime that is non-violent and financially motivated. When federal authorities investigate white-collar crimes, including money laundering, they often send out a “target letter” to people or entities involved in the investigation. A target letter will typically include:

• A statement notifying you that you are the target of a federal grand jury investigation.
• The nature of the criminal offense being investigated.
• A request to contact federal authorities.
• A request to produce documents or other evidence.
• Deadlines for responding to requests.

If you receive a target letter, you should not ignore the letter. At the same time, you should not attempt to destroy or hide evidence, and should not respond to requests in the letter without first consulting with an experienced white collar crime defense attorney. A federal white collar crime defense attorney can discuss the circumstances surrounding the investigation with you and decide how best to respond to any requests made in the letter while protecting your rights.

While it is common for federal authorities to send out target letters, it is not a requirement that they do so. If you have any reason to believe you are part of a money laundering investigation, contact an experienced federal money laundering attorney at Haas Law right away to ensure that your rights are protected throughout the investigation. Getting a federal defense attorney involved early on in an investigation might help prevent official charges from ever being filed against you.

What Are the Potential Penalties for a Money Laundering Conviction?

If you are the target of a money laundering investigation or have been charged with money laundering, it is crucial to understand that although people frequently think of money laundering as a less serious “white-collar crime,” the potential penalties for a conviction can be harsh. In addition, federal authorities have taken an increased interest in prosecuting those suspected of participating in money laundering schemes in recent years. The number of money laundering cases prosecuted by the U.S. Government increased by over 14 percent from 2019 to 2023. 

Most money laundering crimes are governed by 18 U.S. Code §1956 and 18 U.S. Code §1957. A conviction under Section 1856 of the U.S. Code carries a potential sentence of up to 20 years in prison plus a fine of up to $500,000 or twice the value of the property that was involved in the transaction, whichever amount is greater. A violation of Section 1857 carries similar penalties, including a prison sentence of up to ten years. You may also face the forfeiture of assets if you are convicted of money laundering. 

Figures released by the U.S. Sentencing Commission for 2023 illustrate how serious the potential penalties for a money laundering conviction can be:

• Almost 70 percent of the defendants prosecuted for money laundering had no previous criminal history.
• The average sentence for money laundering offenders was 71 months in 2023.
• 90.6 percent of defendants convicted were sentenced to prison.
• 27.6 percent were convicted of an offense carrying a mandatory minimum penalty.

If a federal law enforcement agency has targeted you in a money laundering investigation, there is a good chance they have been watching, listening, and gathering evidence for a considerable amount of time. The sooner you act to protect yourself, the better the chances are of avoiding a conviction. For the experienced, aggressive defense you need, contact Haas Law as soon as possible. Call us 24/7 at 407-392-9299 or fill in the “Tell Us What Happened” form on our website.

Are There Defenses to Accusations of Money Laundering?

In today’s electronic age, money laundering investigations can be incredibly complex, typically involving numerous parties and often requiring law enforcement agencies to track electronic money transfers through multiple countries. The defense strategy utilized in your case will depend on the distinctive facts and circumstances of your case, but may include:

• Providing proof that the funds in question were obtained legally.
• Relying on weaknesses in the prosecution’s case.
• Focusing on your lack of knowledge/intent, which are required elements that the prosecution must prove to obtain a conviction.
• Providing substantial assistance to the government to reduce your charges or sentence if a conviction appears unavoidable.

To get started building a strong defense to achieve the best outcome possible, call Haas Law today at 407-392-9299 or submit the “Tell Us What Happened” form on our website.

Get Help from an Experienced Orlando Money Laundering Attorney 

Vast resources are available to federal law enforcement agencies and prosecutors when they are investigating and prosecuting alleged criminal activity. If you find yourself in the crosshairs of such an investigation or prosecution for alleged money laundering, time is of the essence when it comes to protecting your future. Involving a federal defense attorney early on can make the difference between a lengthy term of incarceration and freedom. 

Attorney David Haas has experience as a prosecutor at both the state and federal levels. As such, he has an intimate understanding of how white-collar criminal cases are investigated and prosecuted, allowing him to provide you with the best possible defense if you have been charged with money laundering. The team at Haas Law is committed to putting their extensive experience, skill, and tireless dedication to work defending you if you are accused of money laundering. Now is the time to protect yourself, your freedom, and your future.

Call us at 407-392-9299 or submit our “Tell Us What Happened” form today. We know that time is of the essence when federal law enforcement authorities are investigating you, so our calls are answered 24 hours a day, 7 days a week.