Legal Approaches to Handling Money Laundering Allegations

What Is Money Laundering?

Money laundering is a catchall term that describes finding a way to take money earned illegally (from selling illegal drugs or sex trafficking, for example) and disguising the source of the money to make it appear legal so that it can be used in everyday financial transactions.

Most schemes have three steps to transition the cash from illegal to appearing legal. 

• Entrance. This is when the money enters the financial system. It’s often done by making a series of smaller deposits or investments rather than dropping the entire lump sum in one place. 
• Movement. The money is then moved around multiple times in a process called layering, which is done to make it harder to trace back to the original depositor.
• “Clean” money. Once enough movement has taken place, and the money’s origins are obscured, the money goes back to the original depositor, appearing legal and above board.  

What Are Some Common Money Laundering Tactics?

There are many. These are among the most common.

• Mules. People are often familiar with the concept of drug mules or otherwise innocent people who agree to smuggle drugs into their bodies for someone else. But mules also involve cash. Money launderers usually don’t let innocent people know what the overall scheme is, but they deposit money that the launderers can later transfer out of those accounts.
• Smurfs. These use the three steps described above to avoid federal and international scrutiny. They routinely deposit amounts of money that aren’t large enough to attract attention.
• Shell companies. While a shell company can be legitimate, it can also be used to squirrel away money and not report it to tax authorities. 

What Are the Consequences of Being Convicted for Money Laundering in Florida?

Florida law takes money laundering quite seriously. Consequences for convictions can be severe depending on the extent of the laundering and the illegal activities involved. The federal government may also be involved. What’s more, often, money laundering charges aren’t the only charges, but may be add-on charges to other crimes that come with their own consequences if convicted.

If convicted, the defendant (the person charged with the crime) could face up to 20 years in prison and fines up to $500,000 or twice the value of the property involved in the crime, whichever is more.

There may also be civil charges involved if people claim they were defrauded or suffered financial losses from being involved in the laundering.

What Are Some Approaches for Defending Against Money Laundering Charges?

Because the consequences can be so dire, it’s crucial to work with an experienced money laundering defense attorney who understands the laws and how to counter them. Every case is unique, but these are some strategies that might be used in your case. 

• No underlying criminal conduct. This involves presenting evidence that the financial transactions targeted by the prosecutor were documented as legitimate business activities. 
• No intent to conceal or deceive. This involves being able to prove that the person with the funds did not intend to conceal the funds or deceive law enforcement about the funds and their source. Intent is key for the prosecution’s case. If they can’t prove there was criminal intent, they will have a more difficult time achieving a conviction.
• Lawful property. This involves proving that any gained property was gained legally.
• Coercion. In some cases, being able to prove that the defendant was coerced or under duress to conduct the money laundering operation, they may not be convicted or convicted of a lesser crime.
• Lack of evidence. The prosecutors have to prove their case beyond a reasonable doubt. That takes significant evidence. If there is no evidence, or the evidence can be soundly disputed, that alone may bring an acquittal. 
• Constitutional violations. Several Constitutional amendments provide certain legal protections, such as the right to an attorney and the right to remain silent. If the defendant was not informed of their Constitutional rights or was deprived of them, the case may be dropped even if the prosecutor has significant evidence. 

What Should I Do if I’ve Been Charged with Money Laundering?

Call George Reres Law as soon as possible at 954-543-1186 to schedule a free case evaluation. These are serious allegations, and you shouldn’t undertake to defend yourself without experienced legal counsel. The laws are complex, and the consequences of conviction can be extensive and life-altering. Our team of experienced, knowledgeable criminal defense attorneys can review your charges and specifics to guide you through planning a defense that could have the best possible outcomes. 

Make sure to give your attorney all information and paperwork relating to the case, including any additional charges that aren’t directly money laundering. It’s imperative for your attorney to know all the charges, especially if there are both state and federal agencies involved. 

There are also things that are vital you don’t do. 

• Stop any ongoing financial activity. It could raise questions and suspicion even if you think it’s legitimate and legal. 
• Don’t destroy anything. It’s easy to panic and worry that records, whether print or digital, should be destroyed. But if you destroy something that could have been considered evidence, that could complicate and worsen your legal situation.

Don’t talk to anyone but your attorney. Investigators for the prosecution would love to talk to you on your own, but you have a Constitutional right to only speak with an attorney present. Don’t give up that right.