Money laundering has been characterized as the “life blood” of international narcotics trafficking in traditional organized crime.  The Money Laundering Control Act of 1986 made it a Federal crime to launder proceeds from specified unlawful activity.  This law prohibits a defendant from engaging in a “financial transaction” involving the proceeds of illegal activity with the intent to either promote said illegal activity, or conceal the true ownership of the property.  Federal prosecutors frequently “follow the money” in order to increase the potential penalties for fraud.  Another advantage to the prosecution is the right to forfeit any laundered proceeds.

Related to the Money Laundering Control Act are currency reporting requirements that carry severe criminal penalties.  Under Federal law, financial transactions, including back deposits, that total over $10,000.00 in cash or cash equivalents obligates the receiver of the money to report the transaction to the IRS.  Efforts to avoid the reporting of the transaction can be interpreted as “structuring” which is also a criminal offense.  “Structuring” has been alleged when amounts smaller than $10,000.00 in cash are transacted over a short period of time.  The prosecution, in those instances, has alleged that these smaller transactions were made with the intent to avoid the currency reporting requirement.  Many an innocent legitimate business owner has been unfairly prosecuted under the “structuring” or money laundering statutes for working with case which is deposited in a bank.

Obtain Legal Assistance

If you or someone you know is accused of a Federal crime, it is imperative that you work with an attorney who has experience in these cases. Charles G. White has represented hundreds of clients in Federal Courts throughout the United States. He has the experience and knowledge essential to obtain the best possible result. Charles G. White. He has over 34 years of experience with these types of cases and will defend you and your rights.