MONEY LAUNDERING CHARGES IN PENNSYLVANIA
If you were charged or are under investigation for money laundering or racketeering, you are probably wondering what the next step is in defending your rights and retaining your freedom.
Facing criminal charges is a frightening situation. The penalties for a conviction of money laundering could mean a lengthy prison sentence and a criminal record.
You may face both U.S. Federal charges and state charges and be required to pay restitution. Depending if there were other crimes involved, like a drug crime, fraud, theft, RICO, or cyber crime, you may face multiple charges, and face multiple sentences, if convicted.
If you are facing money laundering charges or think you may be under investigation, it is important to speak with an experienced and aggressive Pittsburgh Criminal Attorney as soon as possible.
FACING MONEY LAUNDERING CHARGES
DO NOT MEAN YOU ARE GUILTY
OR WILL BE CONVICTED
CALL OR TEXT DAVID J. SHRAGER TODAY
FOR A FREE LEGAL CONSULTATION: 412-969-2540.
Your Rights Are Worth the Fight – Don’t’ Be Scared; Be Prepared!
If you have been charged, arrested or suspect that you may be under investigation, it is in your best interest to call an experienced attorney right away.
At Shrager Defense Attorneys, we work closely with you to fight for your rights and build a strong defense, taking every legal action available to have charges reduced or withdrawn and, ultimately, make attempts for the case to be dismissed.
Pittsburgh Criminal Lawyer David J. Shrager is a high-profile attorney. He does his absolute best to help people retain their rights and freedom so they can go on with their lives – so they can keep a clean record and continue to provide for their families.
MONEY LAUNDERING CHARGES
DO NOT MEAN THAT YOU WILL BE CONVICTED.
CALL OR TEXT DAVID J. SHRAGER TODAY FOR A
FREE LEGAL CONSULTATION: 412-969-2540.
WHAT IS MONEY LAUNDERING?
Money laundering is the illegal process of concealing the origins of money obtained by passing it through a complex sequence of banking transfers or commercial transactions. The overall scheme of this process returns the “clean” money to the launderer in an indirect way.
Money laundering is often used to conceal other crimes and related to other criminal activity, including fraud, identity theft, drug crimes and racketeering.
Methods of laundering money can include:
- Using multiple bank accounts;
- Using international banks, offshore accounts and tax havens;
- Disguising the source of funds;
- Smurfing (Depositing small amounts of illegally obtained money into bank accounts);
- Structuring (depositing and withdrawing money to avoid bank detection);
- Conducting property or service transactions with shell companies;
- Using wire transfers;
- Transporting or transferring illegally obtained funds in or out of the U.S.
In Pennsylvania, there are various financial transactions though many different types of banks, credit card companies and lenders that can qualify as money laundering.
Oftentimes criminal investigations focus on money laundering when other criminal activity is involved, as laundering money can mean avoiding paying taxes on illegal income.
BEING CHARGED WITH MONEY LAUNDERING
DOES NOT MEAN THAT YOU WILL BE CONVICTED.
CALL OR TEXT DAVID J. SHRAGER TODAY FOR A
FREE LEGAL CONSULTATION: 412-969-2540.
CRIMINAL INVESTIGATIONS AND PROCESS OF CONVICTION FOR MONEY LAUNDERING
It is a federal crime to launder money under the 1986 Money Laundering Control Act and there are steep implications for being convicted.
The law does require that an individual has the intent to make the transaction in order to conceal the source, ownership or control of the funds. However, there is no minimum amount applied, nor a requirement that the transaction successfully disguises the money.
The term “transactions” are broadly defined under this act, but they can refer to bank deposits, withdrawals, loans and transfers. The money does not have to be through a bank – as long as the concealment of the source or ownership is there, it is a crime.
Under U.S. Code 18 § 1956, it is explained that in order to be convicted on money laundering charges, prosecutors must establish that at least one of these scenarios occurred:
- Defendant was aware the money originated from criminal activity, and defendant actively promoted the illegal activities or acted to continue them;
- Defendant knew that a financial transaction would hide or disguise the money;
- Defendant took action to not comply with reporting requirements under state or federal laws, including violating the Internal Revenue Code.
If prosecutors cannot prove the defendant had knowledge of money laundering, the defendant can still be charged under Section 1957, which makes it illegal to conduct a financial transaction with unlawfully acquired assets over $10,000.
PENALTIES FOR COMMITTING MONEY LAUNDERING IN PENNSYLVANIA
The penalties for money laundering are very harsh, including a fine of up to $500,000, or twice the amount value of the laundered money, or twenty years in prison, or both.
In Pennsylvania, money laundering is prosecuted as a first degree felony.
- A person shall be sentenced to a fine of the greater of $100,000 or twice the value of the property involved in the transaction or to imprisonment for not more than 20 years, or both.
Pennsylvania laws also issues civil penalties of $10,000 or equal to the value of the financial transaction.
Under 18 U.S. Code § 1956 (Laundering of monetary instruments), money laundering the penalties for money laundering are as follows:
- Shall be sentenced to a fine of not more than $500,000 or twice the value of the monetary instrument or funds involved in the transportation, transmission, or transfer, whichever is greater, or imprisonment for not more than twenty years, or both.
Money laundering charges could also trigger a RICO violation, and a person may be prosecuted under those charges, in addition.
If a defendant is charged under Section 1957, they still face a civil penalty of the value of the property or funds involved in the transaction or $10,000.
In addition, anyone convicted under 18 USC §1956 is prohibited from being employed by or owning an institution insured by the Federal Deposit Insurance Company for at least ten years.
With one’s quality of life and reputation at stake, it is prudent and imperative to choose a highly qualified and experience White Collar Criminal Lawyer who can represent your interests and be aggressive in defending your rights.
FIGHTING FOR YOUR RIGHTS
At Shrager Defense Attorneys, we know good people often commit crimes out of necessity, out of fear or simply because they did not fully understand the implication of their actions. Often the punishments do not match the crimes.
However, just because you are under investigation or have been charged, does not mean you will be convicted. You have legal rights and there are many defenses to winning these types of cases, or having the penalties reduced.
A few defenses to Money Laundering Charges include:
- Lack of intent;
- Insufficient evidence;
- Lack of knowledge regarding source or purpose of the money.
We provide compassionate counsel and will listen to your situation with understanding and empathy — not judgment, reproof or apathy. We want to help ease the stress of the situation and make sure you understand your rights.
Don’t be scared: be prepared. Hiring an experienced criminal lawyer can make all the difference in your case and your future.
At Shrager Defense Attorneys, we treat every case as our most important case and will work aggressively to help you have your charges reduced or withdrawn.
FREE Legal Consultation
Call or Text 412-969-2540 right now for a FREE initial legal consultation.
Speak directly with David J. Shrager 24 hours a day, 7 days a week.
Shrager Defense Attorneys in Pittsburgh, PA will attack your criminal charges in order to protect your good name. Have a sound and solid case prepared by David J. Shrager and his legal team so they can fight for your rights.
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