Posted on 10/14/19

Money laundering is one of the most dangerous and popular financial crimes across the globe. More and more countries and governments are affected by this crime and its consequences.

What exactly ismoney laundering all about? In Texas, money can be obtained from various sources. Some of these prove to be illegal methods. Money laundering refers to concealing the source or origin of this money by taking it through a host of financial transactions and bank transfers. In effect, the source of the money becomes untraceable. This indicates a gross misuse of the financial system of any country. 

The crime essentially includes a launderer who is actually misplacing the money and taking it through these complicated channels in an attempt to cover up the source. More often than not, these appear to be legitimate transactions or business dealings, since the criminal acts are concealed really well. 

Potential Penalties

When it comes topenalties for money laundering, the rules vary from state to state. For Texas, the penalty depends on the amount of money laundered in the process.

For instance, if the criminal is accused of laundering anything between $1,500 and $20,000, the punishment ranges from 180 days to two years in jail along with a fine of $10,000. The penalties increase as the laundered amount increases, with penalties between $30,000 and $150,000.

Up to $300,000 of laundered money falls under the category of a second-degree felony. Finally, if the amount goes beyond $300,000, the accused could get lifetime imprisonment since the act is considered to be a first-degree felony.

Defenses to Money Laundering

Essentially, the moment one is accused of money laundering, you are free to seek the services of a criminal defense attorney to fight the case for them. In fact, the possible defenses can be found within the laws of money laundering. There are two particular points on which to focus. 

The accused could claim a potential defense stating that the act was conducted in an attempt to facilitate certain actions based on the laws of the United States of America. This could include actions related to lawful seizure or disposition of funds. 

The accused could also attempt to state that the act of money laundering was a necessary step taken in order to protect an individual’s rights in the U.S. This is in accordance with the Sixth Amendment of the United States Constitution. For instance, the funds could have been received in exchange of a service where the recipient was not aware of the source of the money. 

One of the more recentcases of money laundering can be traced back earlier this year when a Texas-based business family accepted such charges. The family was involved in money laundering of the gambling proceeds from an illegal gambling company in the U.S. 

Contact an Experienced Criminal Defense Attorney Today

If you are being investigated for or have been charged with money laundering, it is imperative that you contact the attorneys atAbel Law Firm as quickly as possible. We will work to create the best possible defense for your charges. Contact us today to schedule a consultation.

Flower Mound Office

Phone: 972.584.7837

Denton Office