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Money Laundering

Money laundering refers to a broad range of criminal offenses, all of which involve gaining assets from an illegal activity. For instance, you could have obtained money or other assets from the illegal drug trade, wire fraud, mail fraud, or illegal forms of gambling. Although many individuals assume that all money laundering involves false names and offshore bank accounts used to avoid taxes, that is not always the case. You can face money laundering charges simply for having large sums of money or assets that you have no proof of legally obtaining. Since money laundering always involves another illegal activity, money laundering charges often are accompanied by other felony charges.

Money Laundering

The severity of punishment for a money laundering conviction varies according to the amount of money or other assets involved in the scheme or series of transactions. For assets valued at $2,500 to $29,000, for instance, you would face a state jail felony with a potential jail sentence of six months to two years in jail, along with as much as a $10,000 fine. On the other end of the spectrum, assets valued at $300,000 or more could result in a 1st degree felony conviction, carrying a prison sentence of five to 99 years in prison, and up to a $10,000 fine. Additionally, any sort of money laundering conviction can trigger the federal government to take steps to seize any property that you own, including vehicles, bank accounts, and real estate.

If you find yourself charged with money laundering or any other type of criminal offense, you need legal advice that only experienced Texas criminal defense attorneys can offer you. The consequences of a money laundering conviction can be serious, no matter what type of criminal charges you may be facing. As a result, you should immediately contact a skilled defense lawyer for help if you have been accused of a criminal offense. Peek & Toland provides strong legal representation on a regular basis for adults who are charged with various crimes. It is our priority is to represent your interests and protect your rights.  Call us at (512) 474-4445 and schedule an appointment to speak with us today.

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Posted in Criminal Defense, White Collar Crimes

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