FEDERAL CRIMINAL LAWYERS

NJ Money Laundering Lawyers

White collar crimes often help corrupted subjects earn large sums of cash. In many instances, such acts are convoluted schemes comprising several facets and numerous participants. One such form of this type of malfeasance is money laundering.

Our team of experienced and skilled criminal defense attorneys invites interested parties to read the following blog providing an overview of money laundering, the potential penalties one could face if convicted, and the possible defenses an accused party might employ if charged with said act.

Overview

Money laundering is the act of earning significant sums of money through illegal efforts but using disguises to create the appearance that said funds were garnered through legitimately. Common criminal actions in which money laundering often occurs include various drug offenses, prostitution rings, and the funding of terrorist activities.

Specific Money Laundering Differentiations

There are several specific types of laundering including:

Cash-Based

Sometimes, money launderers deposit large amounts of illegally-obtained cash into the business accounts of legitimate establishments. Typically, a banking institution has no failsafe method of determining the validity of those deposits, which renders proving illegality particularly challenging.

Trade-Based

Those committing this act doctor legitimate documents like bills or business statements to create a traceable paper trail designed to legalize illegal transactions.

Real Estate

Some individuals might perform real estate transactions like house-flipping and use associated profits for illegal purposes.

Bank Capture

In certain instances, those who oversee financial institution operations like bank presidents or managers engage in the wiring or depositing of dirty money into seemingly legal accounts. Since this is performed under the guise of actual business, such behavior typically does not arose suspicions.

Structuring

Said act occurs when perpetrators break large sums of illegally-obtained money into smaller amounts and transfer or funnel lesser sums to make their actions appear appropriate.

Casino

Some malfeasant subjects purchase gambling chips with illicit funds and immediately cash said objects to reap large cash profits.

Proving Money Laundering

Money laundering is not an easy crime to prove. Prosecuting attorneys must demonstrate that the perpetrators were involved in some type of criminal activity, they knowingly profited from such actions, engaged in some type of elaborate plan to make their actions appear legal, and used the money for professional or personal gain.

Moreover, a prosecutor must additionally prove intent. This means clearly demonstrating that the individual under scrutiny knew they were engaging in unlawful actions, profited from such behavior, and partook in deceptive activities designed to confuse or mislead financial institutions or law enforcement agencies.

Potential Penalties

In the State of New Jersey, the penalties for money laundering can be steep. Moreover, money laundering is typically prosecuted by state and federal authorities, which means one charged with said crime could also face serious charges levied by the United States government.

Money laundering is an indictable crime, the most serious or all criminal acts. Penalties can range in severity from third to first degree. That said, the specific charge one receives will hinge on several key factors such as the amount of money involved, the subject in question’s criminal record, and if they will face prosecution for any other criminal offenses associated with the laundering charges.

Specific New Jersey-based money laundering penalties are as follows:

Third Degree

Individuals face third degree charges when they were involved with transactions totaling $75,000 or less. If convicted, the subject in question could receive anywhere from three to five years in prison.

Second Degree

Second degree indictable money laundering occurs when an alleged offender partakes in the illegal transacting of funds ranging in amounts more than $75,000 to $499,000. Convictions typically carry prison sentences of five to 10 years.

Frist Degree

Money laundering in the first degree takes place when $500,000 or more of dirty funds have been obtained and processed. Convicted individuals could face up 10 years of incarceration. Moreover, the jailed subject must serve at least one-third of the specific sentence handed down before a judge may consider awarding parole.

Monetary Restitution

Courts might order convicted individuals to remit fines. Typically, the specific amount is three times whatever the value of all property involved in the initial crime was.

Potential Defenses

On the surface, it might not seem like there could be many justifiable defenses for money laundering. However, in certain instances, a skilled federal criminal defense attorney might possess the acumen to formulate the following arguments:

Coercion

A handful of individuals might be forced to engage in money laundering activities under the duress of criminal but powerful people who threaten their lives or their families well-being should they not capitulate. Oftentimes, these are professional persons such as accountants and business managers.

No Provable Intent

Some lawyers might be able to demonstrate that the accused party did not realize they were committing malfeasant acts. For example, the aforementioned professionals might process large sums of money for unscrupulous subjects but have no idea the money was dirty or said individuals were partaking in criminal actions.