Money laundering is considered a federal offense in many situations. This is a serious crime, and if you are accused of it, you need to get help as soon as possible. Here, you can learn more about the charge that you face, penalties for these charges, and how to defend yourself.
Money laundering occurs when someone makes money that was obtained through criminal activity into legitimate money that can be spent without raising the suspicion of the IRS. Any misuse of the financial system for personal gain can constitute this crime.
When you launder money over the internet, you become guilty of the online version of this crime. There are four different degrees of online laundering or regular laundering.
Money Laundering Penalties
Money Laundering in the First Degree
- Laundering more than $10,000 related to selling controlled substances.
- Class B Felony – penalties include a fine of up to $15,000 and 1-20 years in prison.
Money Laundering in the Second Degree
- Laundering more than $10,000 related to criminal conduct.
- Class C Felony – penalties include a fine of up to $10,000 and a prison sentence of 1-10 years.
Money Laundering in the Third Degree
- Laundering more than $10,000 that you know is related to criminal activity or helping someone benefit from criminal activity by laundering money.
- Class D Felony – penalties include a fine of up to $5,000 and 1-5 years in prison.
Money Laundering in the Fourth Degree
- Laundering money of less than $10,000.
- Class A Misdemeanor – penalties include a fine of up to $2,000 and up to a year in prison.
As you can see, the consequences for money laundering can be very serious. If you face a money laundering charge, you might be frightened or nervous. The important thing is not to panic. You can fight this charge and make the most of this situation. The best way to defend yourself is to hire a criminal defense attorney. An attorney can prepare your case for you and take on the stress of the case. This will allow you to focus on your emotional well being while someone else handles your legal situation.
At Ruane Attorneys, we advocate for every one of our clients. We understand that each case is separate. This oftentimes means that we need to come up with individualized and creative defenses for our clients. We are happy to do this for your case and to help you through this difficult time.