Get help from a New Jersey criminal law firm
Most people have heard the term money laundering before but do not really understand what it entails. Money laundering is the process of disguising the source of property obtained through illegal activity by channeling it through legitimate business. In New Jersey, several types of conduct constitute money laundering:
- Possessing property that a reasonable person would know to be derived from illegal activity
- Entering a transaction involving such property knowing that the purpose of the transaction is to disguise the source of the property or avoid federal or state reporting requirements
- Preventing a financial institution from filing a report required by state or federal law or causing such an institution to file a report containing material omissions or false facts
At Arseneault & Fassett, LLP, we are respected for our level of integrity and devotion to clients accused of white-collar crime. Contact us for legal representation.
Money laundering penalties
Money laundering is a serious crime under both New Jersey and federal law. In New Jersey, the severity of a money laundering crime usually depends on the value of the property involved:
- $500,000 or more: First-degree crime carrying a sentence of 10 to 20 years in prison
- $75,000 to $499,000: Second-degree crime carrying a sentence of 5 to 10 years in prison
- Less than $75,000: Third-degree crime carrying a sentence of 3 to 5 years in prison
- Obstructing a legally required report from a financial institution: Third-degree crime carrying a sentence of 3 to 5 years in prison
The success or failure of a money laundering charge can hinge on whether the accused knew or should have known the property in question was derived from illegal activity. A careless statement by the accused can often have a devastating impact on his or her defense. That is why it is crucial for you to consult a New Jersey white-collar criminal attorney at the earliest stages of an investigation. An attorney from the New Jersey criminal law firm of Arseneault & Fassett, LLP can protect your rights during a money laundering investigation.
While many criminal defense law firms practice in New Jersey, few focus on defending clients in money laundering or other white-collar cases. At Arseneault & Fassett, LLP, we are experienced in handling the complex legal nature of money laundering and other white-collar crimes. Our experienced litigators can mount a quality criminal defense in New Jersey or federal court.
Contact Arseneault & Fassett, LLP
The law firm of Arseneault & Fassett, LLP in Chatham, New Jersey has extensive experience defending clients in the New York tri-state area against money laundering and other white-collar criminal charges in both state and federal court. Call our office at 973-635-3366 or contact us online today for a free consultation.