Top Clarendon Hills, IL Money Laundering Lawyers Near You
When the stakes are high, call Glozman Law. Our trial ready team is committed to results when facing state & federal charges.
Se Habla Español
Free Consultation
Virtual Appointments
AGRESSIVE REPRESENTATION MATTERS. Putting your case in the hands, of an experienced attorney, matters. Don't trust your case to an associate attorney at a big firm. Call 24/7.
Se Habla Español
Free Consultation
Our nationwide team of defense lawyers includes a former U.S. Attorney, four former Federal Prosecutors, two former FBI agents and two former Army JAGS.
Free Consultation
Virtual Appointments
Criminal TAX Defense. We defend individuals who are targets, subjects or witnesses in criminal tax investigations & prosecution.
Fed Trouble? Free Consult. Former Prosecutor & Team Former Federal Agents. Call/Text 24/7. Immediate Response Guaranteed!
Se Habla Español
Free Consultation
Virtual Appointments
A Felony Conviction Will Change Your Life Forever. Work With An Experienced And Resourceful Lawyer Who Can Help Get Your Life Back On Track.
Se Habla Español
Free Consultation
10 North Dearborn Street, 6th Floor, Chicago, IL 60602
17W662 Butterfield Rd, Suite 304, Oakbrook Terrace, IL 60181
33 N. Dearborn Street, Suite 1950, Chicago, IL 60602-3249
320 S Canal St, Suite 3300, Chicago, IL 60606
17926 South Halsted Street, Suite 3SE, Homewood, IL 60430
321 North Clark Street, Suite 1000, Chicago, IL 60654
30 N LaSalle St, Suite 2140, Chicago, IL 60602
1655 S Blue Island Ave, Chicago, IL 60608
222 W Adams St, Suite 2250, Chicago, IL 60606
321 N. Clark Street, Suite 1600, Chicago, IL 60654
190 South LaSalle Street, Suite 3700, Chicago, IL 60603
1425 McHenry Rd, Suite 204, Buffalo Grove, IL 60089
333 W Wolf Point Plaza, Chicago, IL 60654
110 N Wacker Drive, Suite 3800, Chicago, IL 60606
155 North Wacker Drive, Suite 3100, Chicago, IL 60606
55 West Monroe Street, Suite 1200, Chicago, IL 60603
1 North Wacker Dr, Suite 4500, Chicago, IL 60606-1901
111 East Wacker Drive, Suite 2600, Chicago, IL 60601
1200 Harger Road, Suite 830, Oak Brook, IL 60523
71 South Wacker Drive, 45th Floor, Chicago, IL 60606
55 West Monroe Street, Suite 3800, Chicago, IL 60603
33 North Dearborn Street, Suite 1830, Chicago, IL 60602
120 South Riverside Plaza, Suite 2200, Chicago, IL 60606
100 North Riverside Plaza, Suite 1500, Chicago, IL 60606
150 S. Wacker Drive, Suite 3000, Chicago, IL 60606
Clarendon Hills Money Laundering Information
Lead Counsel independently verifies Money Laundering attorneys in Clarendon Hills and checks their standing with Illinois bar associations.
Our Verification Process and Criteria
Ample Experience
Attorneys must meet stringent qualifications and prove they practice in the area of law they’re verified in.Good Standing
Be in good standing with their bar associations and maintain a clean disciplinary record.Annual Review
Submit to an annual review to retain their Lead Counsel Verified status.Client Commitment
Pledge to follow the highest quality client service and ethical standards.
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.