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Money Laundering Explained

A conviction of money laundering carries harsh penalties that can include assets seizure and financial fines. Conviction may even land you with up to 20 years in a state prison and a permanent criminal record. The Patriot Act, which carries even stiffer penalties, can be invoked if links to terrorism are proved. Being suspected of laundering money is a terrifying prospect. You need a powerful and skilled New Jersey money laundering attorney who works closely with you to build the strongest defense possible.

The Internal Revenue Service (IRS) defines money laundering as financial transactions that are undertaken specifically to hide the true source of money, usually when the money is earned from an illegal enterprise. The object, simply stated, is to turn “dirty” money into “clean” money. While you may not know the source of the tainted funds, if the court decides that a “reasonable” person would have known the funds derived from illegal activity, then you are left criminally liable. Three types of money laundering deals are recognized by the law: domestic, international and undercover “sting” operations.

Possible defenses against money laundering charges include:

  • Lack of intent to commit a crime
  • Duress
  • Insufficient evidence
  • Police misconduct
  • Insufficient amount of money from illegal sources

An experienced New Jersey criminal law firm can evaluate your situation and work with you to determine which defense is best for your case.

If you are being investigated or prosecuted for participating in a money laundering scheme, do not speak with the authorities before consulting an attorney. You may make incriminating statements that limit the effectiveness of your defense. The skilled attorneys at Arseneault, Whipple, Fassett & Azzarello, LLP personally guide you through the complexities of a financial investigation. They are committed to protecting your freedoms, assets and legal rights.

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