Money laundering is the practice of engaging in a financial transaction to conceal the source, amount, identity or destination of the ill-gotten money. Each federal circuit interprets the requirements for proving money laundering differently. In some jurisdictions, the money has to be traced to the underlying criminal offense. In other jurisdictions, a deposit of any ill-gotten money into a bank account taints clean funds.
In other words, money laundering charges are complicated to prove and vary by court and judge; thus, a defendant accused of money laundering requires an attorney who thoroughly understands federal criminal law.
Under federal law, there are two money laundering statutes. One prohibits engaging in financial transactions that use ill-gotten funds to further the criminal activity. The other prohibits any person from engaging in a monetary transaction involving $10,000, where the money derives from specific unlawful activity.
Questions Regarding Money Laundering Charges?
Contact Hilder & Associates, P.C., in Houston, Texas, to discuss your legal concerns about fraud and other financial criminal matters. We have a reputation for providing comprehensive criminal defense representation for individuals accused of white collar offenses.