California Money Laundering Laws
Aggressive Defense from San Diego Criminal Attorneys
Money laundering is a
white collar crime that occurs when you take illicitly received money and attempt to conceal
its origin and convert it to "legitimate" financial assets or
money. In this arrangement, a person puts the money received from criminal
activity through a complex transaction to give off the appearance it came
from a perfectly legal operation. This can involve things like shell companies
and buying real estate.
Additionally, you do not actually have to be the person who conducted the
illegal operation to be charged with money laundering. If you are a financial
institution who handles a significant amount of laundered money, you can
potentially be held criminally liable.
Penalties for Money Laundering
In the state of California, money laundering carries significant penalties
including prison time and fines. Depending on the circumstances of the
case, money laundering can either be tried in state courts or federal
courts. The circumstances can also determine whether the crime will be
prosecuted as a felony or misdemeanor.
In order to be charged with money laundering, there must be evidence you:
- Put the money through a financial institution
- Make at least $5,000 in deposits within seven days or $25,000 in deposits
within 30 days
If it is a misdemeanor, the prison sentence for money laundering is no
greater than one year. However, a felony money laundering charge can carry
a prison sentence up to three years. A federal money laundering charge
can mean decades in prison.
Choose a Top San Diego Defense Law Firm for Your Case
San Diego criminal defense lawyers at The Law Offices of Kerry L. Armstrong, APLC have more than 40 years
of collective experience fighting criminal charges in California. We have
extensive jury trial experience, and a track record of numerous favorable
verdicts and outcomes. Additionally, all of our firm's attorneys have
earned the perfect 10.0 rating on Avvo. Our firm's lead counsel was
recognized as the San Diego Criminal Defense Bar Association's 2012
Trial Attorney of the Year.
If you were arrested for money laundering in the San Diego area, don't
wait to retain the proven representation of The Law Offices of Kerry L.
Armstrong, APLC. Call today to request a
free consultation with our experienced defense team!