If you’re accused of a white collar crime, you’re in deep trouble. Accusations could lead to federal and state charges.
It’s in your best interests to do what you can to protect yourself. With the right defense, you’ll be able to fight the charges against you.
What is money laundering?
Money laundering is when a person hides money that he or she obtained through criminal activities through a series of specific measures meant to “clean” those funds. By doing this, it would make the funds appear as if they were earned legitimately, even though there is a criminal source.
How could someone launder money?
One good example would be taking funds received from selling drugs and using that money to purchase prepaid debit cards. Using those cards, the person could then make legitimate purchases and sell those assets to earn money legally. After those steps, it would be hard to track where the money came from, especially since the first transaction was a cash transaction.
What kinds of penalties are there for money laundering charges?
You could face criminal charges at the state and federal level if you’re accused of money laundering. The penalties you’ll face will depend on the specifics of the case, but you are most likely to be sentenced with a third-degree felony and fined. The fine is normally $7,500 or two times the value of any property involved in your case, whichever of the two is worth more.
Are there defenses to money laundering?
A lack of intent is one of the best defenses. Duress, lack of knowledge and entrapment are also possible defenses.
Source: FindLaw, “Ohio Money Laundering Laws,” accessed May 18, 2018