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For more than 35 years, Carney, Gaudet & Carney has been defending clients against federal criminal charges.
Our nationwide team of defense lawyers includes a former U.S. Attorney, four former Federal Prosecutors, two former FBI agents and two former Army JAGS.
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260 Franklin Street, 14th Floor, Boston, MA 02210
75 State St, Suite 100, PMB 4418, Boston, MA 02109
105 Willard Rd, Brookline, MA 02445
800 Boylston St, 30th Floor, Boston, MA 02199
One Beacon Street, Suite 1320, Boston, MA 02108
28 State Street, Suite 700, Boston, MA 02109
470 Atlantic Ave, Suite 600, Boston, MA 02210
One International Place, Suite 2700, Boston, MA 02110
53 State St, Boston, MA 02109
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100 High Street, Suite 2400, Boston, MA 02110
200 Clarendon St, Boston, MA 02116
44 School St, Suite 1000B, Boston, MA 02108
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6 Beacon Street, Suite 305, Boston, MA 02108
50 Federal Street, 5th Floor, Boston, MA 02110
101 Federal St, Suite 650, Boston, MA 02110
572 Washington Street, Suite 19, Wellesley, MA 02482
One Commercial Wharf West, Boston, MA 02110
265 Franklin Street, Boston, MA 02110
60 State St, Suite 2400, Boston, MA 02109
One Boston Place, 26th Floor, Boston, MA 02108
111 Huntington Ave, Suite 719, Boston, MA 02199
One Federal Street, Boston, MA 02110
500 Boylston Street, Boston, MA 02108
Auburndale Money Laundering Information
Lead Counsel independently verifies Money Laundering attorneys in Auburndale and checks their standing with Massachusetts bar associations.
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What Is Money Laundering?
Money laundering generally involves processing money gained from unlawful activity to make it appear legitimate. By passing criminal gains through a series of transactions, the money does not appear to be directly traced to the criminal activity. Money laundering can come from a variety of unlawful sources, including illegal gambling, drug trafficking, or terrorist activities.
Dealing with large amounts of money can raise red flags and alert law enforcement. There are financial reporting requirements when someone withdraws or deposits more than a certain amount of money. When large amounts of money are used to transfer through banks, buy a car, or invest in a building project, the IRS may want to know if tax has been paid on that money and the justice department may want to know the source of that income.
How Does Money Laundering Work?
Money laundering generally goes through a 3-step process of placement, layering, and integration.
In the first step, the criminal source of income is deposited into the financial system through a deposit, transportation of cash, or change in currency.
In the second step, layering, the criminal proceeds are concealed through withdrawals, transfers, or deposits in other accounts.
In the third step, integration, the money appears to have a legitimate source through creating fake loan documents, hiding the ownership of the funds, or using the money in 3rd party transactions.
What Is an Example of Money Laundering?
A drug dealer has made a lot of money and wants to conceal the illegal source of the “dirty money.” The dealer’s friend buys a laundromat and the dealer’s money is invested in the business to buy equipment, advertising, supplies, and pay for employees. The laundromat has a few actual customers and appears to be a legitimate business. The dealer’s money is commingled with the business income to make it appear like the business is very profitable. The money can now be deposited in a bank as income from a laundromat instead of as drug money.
Is Money Laundering a Federal Crime?
Money laundering can be a state criminal charge or a federal offense. When money laundering involves a flow of resources to and from federal crimes or passes through interstate commerce, it can be charged as a federal crime. Under 18 U.S. Code § 1956, it is a crime to participate in money laundering knowing the transaction is designed to conceal the nature, location, source, ownership, or control of the proceeds.
What Is the Punishment for Money Laundering?
The criminal penalties for a money laundering offense can be severe. Anyone involved in a money laundering scheme can be charged, even if they did not directly participate in the unlawful source of the money. A conviction for money laundering includes a prison sentence of up to 20 years and a fine of up to $500,000, or double the value of the property involved in the financial transactions. For example, the penalties for money laundering $1 million in unlawful gains could include a fine of up to $2 million.
There are also civil fines associated with money laundering. Whoever conducts or attempts to conduct a money laundering transaction is liable to the United States for a penalty of the value of property, funds, or monetary instruments involved in the transaction.
Money laundering usually involves some underlying criminal activity. Participating in money laundering may also carry related criminal charges, including bank fraud, securities fraud, racketeering, tax fraud, mortgage fraud, health care fraud, mail fraud, or other white-collar crime.
What Are Potential Defenses to Money Laundering?
Money laundering can be a complicated process. Laundering transactions can involve multiple shell companies, bank accounts, and account holders. In some cases, identity theft can be used to make it appear like an innocent person is involved. It may be a compelling defense to money laundering charges if the defendant did not have knowledge of the illegal activity or did not know the transaction was to conceal the nature or original source of the proceeds.
Do You Really Need a Money Laundering Defense Lawyer?
When accused of a money laundering charge, where do you turn for help? Even before criminal charges are ever filed, during a federal level investigation for money laundering, you may want to think about contacting a criminal lawyer. Money laundering cases can be complex and may require an experienced money laundering attorney to build a strong defense. A criminal defense attorney can review the criminal record, identify weaknesses in the prosecutor’s case, and defend you in court. Criminal defense lawyers may also be instrumental in negotiating a plea agreement to have your charges reduced or avoid additional criminal charges.