Criminal charges for white-collar crimes often lead to complex criminal cases, and money laundering accusations are no exception. A criminal case based on money laundering may proceed in either state or federal court, depending on the circumstances, and a conviction could result in steep fines and significant prison time.
Acting quickly to defend yourself is essential after being charged with money laundering, so consider seeking help from one of our skilled white-collar criminal defense attorneys. With guidance and support from a Lincoln money laundering lawyer, you can rely on us to vehemently protect your rights and best interests in the face of serious criminal allegations.
How do Federal and State Laws Address Money Laundering?
State-level money laundering offenses are governed by the Nebraska Money Transmitters Act but can be prosecuted at the federal level because they often involve illicit transactions occurring across multiple states.
18 United States Code §1956 defines money laundering as obtaining funds through criminal activity and shielding it from tax liability or otherwise obscuring its illegal origin. This specific definition was established by the Money Laundering Control Act of 1986, but investigations and prosecutions for federal money laundering charges usually stem from regulatory permissions granted to banks by the Bank Secrecy Act.
A single allegation of money laundering could involve numerous federal and state statutes, the exact phrasing of which may be crucially relevant to refuting the prosecution’s case. A Lincoln attorney can help you understand how this terminology applies in your money laundering case.
Potential Penalties Following a Conviction
The penalties issued for a money laundering conviction vary depending on the amount of money laundered and whether state or federal authorities are prosecuting the case. A federal money laundering conviction under 18 U.S.C. §1956 may result in a civil penalty of either $10,000 or the value of the funds involved, whichever is greater. Under 18 U.S.C. §1957, a conviction can also result in imprisonment for up to 10 years if the amount of money laundered exceeds $10,000.
Neb. Rev. Stat. §8-2744 states that violations of the Nebraska Money Transmitters Act can lead to a fine of $5,000 per illicit transaction, in addition to any costs associated with the investigation. Neb. Rev. Stat. §8-2745 also classifies this offense as a Class I misdemeanor, meaning that a conviction could be punished by a 1-year jail sentence and an additional $1,000 fine. Once retained, an attorney at our firm can handle every detail of your money laundering case, regardless of the individual charges you’re facing.
Learn More by Speaking with a Lincoln Money Laundering Attorney
While white-collar crimes are “victimless,” law enforcement authorities still take them seriously, and convictions for these offenses can result in harsh penalties. If you are convicted of laundering money in the state of Nebraska, you could find yourself dealing with extremely steep fines and potentially even jail time.
Navigating the various state and federal legal procedures isn’t something you have to do on your own. Fortunately, you can gain access to extensive legal experience and expertise by retaining a Lincoln money laundering lawyer. Call Berry Law today to schedule a confidential consultation.