Money laundering is one of the most common “white-collar crimes.” If the court convicts you on these charges, the consequences could be life-changing. Not only can a trial hinder one’s ability to navigate everyday life, but a conviction could ruin a person’s career and personal reputation.
An attorney well versed in criminal law can fight for your rights with an aggressive defense. After an arrest, it is in your best interest to call a Bellevue money laundering lawyer as soon as possible.
What is Money Laundering?
Money laundering is any effort to disguise or hide the amount, source, or destination of money procured through unlawful means. The concept involves washing “dirty” money to prevent law enforcement from tracing it back to a criminal act. Some people launder funds so they can spend it without fear of tax consequences.
How the Process Works
While no two money-laundering operations are exactly alike, they all follow a similar pattern. The first step typically involves placing the illegally-obtained money into a legitimate financial system. This often involves discretely placing the funds into a legal business to make it appear as income lawfully earned by the company.
Once the money enters the financial system, many launderers move the funds through complex transactions or investments to hide the original source of the money. Examples include wiring the funds to and from foreign accounts or investing the money elsewhere.
Prosecutors often charge alleged drug traffickers with this offense. Ultimately, this act is illegal under both state and federal law. A Bellevue resident accused of money laundering can benefit from a lawyer experienced in these types of cases.
Potential Penalties for Laundering Money in Bellevue
Money laundering offenses in Bellevue fall under the Nebraska Money Transmitters Act. This offense is a felony under state law. However, state charges are less common, given that money laundering frequently occurs across state lines.
On the federal level, 18 United States Code §1956 governs the crime of money laundering. The penalties for a federal conviction under this statute are severe. Upon conviction, a person could face up to 20 years in federal prison.
Additionally, the court may order a fine of up to $500,000 or double the amount of the laundered money, whichever is greater. A diligent attorney can inform you of what to expect in a money laundering case.
Contact a Bellevue Money Laundering Attorney Today
Prosecutors always tie money laundering to other criminal acts, such as drug or sex trafficking or the illegal sale of firearms. Due to the nature of the offense, prosecutors must prove the defendant committed some form of unlawful activity. Otherwise, there would be no reason to launder the money.
Federal prosecutors take particular interest in these offenses, as they often involve large-scale criminal acts. Federal prosecutors pursue these cases aggressively, which is why you need a relentless defense attorney to fight back against these charges. A Bellevue money laundering lawyer can help you pursue a favorable outcome to your case. To learn more, schedule a confidential consultation today.