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202 Tribble Gap Rd, Suite 200, Cumming, GA 30040
1201 West Peachtree, Suite 1100, Atlanta, GA 30309-3232
1180 West Peachtree Street, Suite 1800, Atlanta, GA 30309
1800 Peachtree Street NW, Suite 300, Atlanta, GA 30309
2951 Piedmont Rd NE, Suite 200, Atlanta, GA 30305
One Atlantic Center, Ste 2800, 1201 W. Peachtree Street, Atlanta, GA 30309-3450
Terminus 200, Suite 1200, 3333 Piedmont Road, NE, Atlanta, GA 30305
1180 Peachtree St NE, Suite 3350, Atlanta, GA 30309
2786 North Decatur Road, Suite 245, Decatur, GA 30033
1349 West Peachtree St. NW, Suite 1500, Atlanta, GA 30309
3333 Piedmont Rd NE, Suite 2500, Atlanta, GA 30305
One Atlantic Center, Suite 3250, 1201 West Peachtree Street NW, Atlanta, GA 30309
1355 Peachtree Street NE, Suite 455, Atlanta, GA 30309
3575 Koger Blvd, Suite 215, Duluth, GA 30096
600 Peachtree Street NE, Suite 3000, Atlanta, GA 30308
3560 Lenox Road, Suite 1600, Atlanta, GA 30326
1201 West Peachtree Street, Suite 2300, Atlanta, GA 30309
1100 Peachtree Street N.E., Suite 950, Atlanta, GA 30309
999 Peachtree Street NE, Suite 2300, Atlanta, GA 30309-3996
1105 W Peachtree St NW, Suite 1000, Atlanta, GA 30309
One Ninety One Peachtree Tower, 191 Peachtree Street, NE, Suite 4800, Atlanta, GA 30303
3151 Maple Drive, NE, Atlanta, GA 30305
3343 Peachtree Road, NE, Suite 1600, Atlanta, GA 30326
1100 Peachtree Street, NE, Suite 2800, Atlanta, GA 30309
1201 West Peachtree Street, Suite 4900, Atlanta, GA 30309
Woodstock Money Laundering Information
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What Is Money Laundering?
Money laundering generally involves processing money gained from unlawful activity to make it appear legitimate. By passing criminal gains through a series of transactions, the money does not appear to be directly traced to the criminal activity. Money laundering can come from a variety of unlawful sources, including illegal gambling, drug trafficking, or terrorist activities.
Dealing with large amounts of money can raise red flags and alert law enforcement. There are financial reporting requirements when someone withdraws or deposits more than a certain amount of money. When large amounts of money are used to transfer through banks, buy a car, or invest in a building project, the IRS may want to know if tax has been paid on that money and the justice department may want to know the source of that income.
How Does Money Laundering Work?
Money laundering generally goes through a 3-step process of placement, layering, and integration.
In the first step, the criminal source of income is deposited into the financial system through a deposit, transportation of cash, or change in currency.
In the second step, layering, the criminal proceeds are concealed through withdrawals, transfers, or deposits in other accounts.
In the third step, integration, the money appears to have a legitimate source through creating fake loan documents, hiding the ownership of the funds, or using the money in 3rd party transactions.
What Is an Example of Money Laundering?
A drug dealer has made a lot of money and wants to conceal the illegal source of the “dirty money.” The dealer’s friend buys a laundromat and the dealer’s money is invested in the business to buy equipment, advertising, supplies, and pay for employees. The laundromat has a few actual customers and appears to be a legitimate business. The dealer’s money is commingled with the business income to make it appear like the business is very profitable. The money can now be deposited in a bank as income from a laundromat instead of as drug money.
Is Money Laundering a Federal Crime?
Money laundering can be a state criminal charge or a federal offense. When money laundering involves a flow of resources to and from federal crimes or passes through interstate commerce, it can be charged as a federal crime. Under 18 U.S. Code § 1956, it is a crime to participate in money laundering knowing the transaction is designed to conceal the nature, location, source, ownership, or control of the proceeds.
What Is the Punishment for Money Laundering?
The criminal penalties for a money laundering offense can be severe. Anyone involved in a money laundering scheme can be charged, even if they did not directly participate in the unlawful source of the money. A conviction for money laundering includes a prison sentence of up to 20 years and a fine of up to $500,000, or double the value of the property involved in the financial transactions. For example, the penalties for money laundering $1 million in unlawful gains could include a fine of up to $2 million.
There are also civil fines associated with money laundering. Whoever conducts or attempts to conduct a money laundering transaction is liable to the United States for a penalty of the value of property, funds, or monetary instruments involved in the transaction.
Money laundering usually involves some underlying criminal activity. Participating in money laundering may also carry related criminal charges, including bank fraud, securities fraud, racketeering, tax fraud, mortgage fraud, health care fraud, mail fraud, or other white-collar crime.
What Are Potential Defenses to Money Laundering?
Money laundering can be a complicated process. Laundering transactions can involve multiple shell companies, bank accounts, and account holders. In some cases, identity theft can be used to make it appear like an innocent person is involved. It may be a compelling defense to money laundering charges if the defendant did not have knowledge of the illegal activity or did not know the transaction was to conceal the nature or original source of the proceeds.
Do You Really Need a Money Laundering Defense Lawyer?
When accused of a money laundering charge, where do you turn for help? Even before criminal charges are ever filed, during a federal level investigation for money laundering, you may want to think about contacting a criminal lawyer. Money laundering cases can be complex and may require an experienced money laundering attorney to build a strong defense. A criminal defense attorney can review the criminal record, identify weaknesses in the prosecutor’s case, and defend you in court. Criminal defense lawyers may also be instrumental in negotiating a plea agreement to have your charges reduced or avoid additional criminal charges.