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Among the most common white collar crimes is money laundering, or disguising, transferring, or concealing monies obtained through criminal activities. If you have been charged with this crime, contact a Chattanooga money laundering lawyer immediately to start working on your defense.
Getting accused of or charged with any crime is always upsetting, especially if the case is completely baseless or the result of another’s activities, such as blackmail-related doings. No matter how distressed you are, it is essential to speak with a criminal defense attorney as soon as possible. The quicker you start building your defense, the better. Depending on the charges and your role in the supposed crime, your attorney might be able to get the case dismissed so you can resume normal life and look forward to the future.
Title 39, Chapter 14, Section 39-14-902 of the Tennessee Code cites numerous offenses related to money laundering. The Money Laundering Act of 1996 discusses criminal financial activities designed to escape the state or federal government’s notice, including monies and properties that might be used for such activities. They include currency, gemstones or jewelry, precious metals, tickets, and financial institution credits.
The state also provides examples of common money laundering offenses that legal professionals review with their clients. According to Section 39-14-903, they include knowingly using or trying to use monies procured from illegal activities for financial reasons. Such activities are designed to conceal the “nature, source, location, ownership, or control” of the proceeds. Using those proceeds to conduct unlawful activities is also considered money laundering.
Money laundering is typically a Class B felony according to Tennessee law. The maximum fine for a conviction is $25,000, with the prison sentence ranging from eight to 30 years. However, the crime is considered a Class E felony if a business used funds or property with the intention of facilitating or committing illegal activities, or obtaining, selling, concealing, transferring, or purchasing criminal proceeds. Class E felony penalties include a seizure of the assets and a $5,000 fine.
In addition to fines and imprisonment related to criminal charges, those convicted of money laundering might face civil lawsuits from individuals attempting to recover their rightful funds. Defense attorneys who specialize in white collar crimes work to avoid these penalties or at least get them reduced.
Money laundering may occur in conjunction with other criminal activities. The defendant’s legal representative might be able to claim their client had no knowledge of or part in white collar crimes such as:
Organized crime and drug transactions might also play into laundering activities the defendant possibly did not know about. Examples of entities and accounts often used in money laundering include casinos, trusts, cash-intensive businesses, and real estate. Bulk cash smuggling might also play into these activities.
Do not wait to contact a Chattanooga money laundering lawyer if you were recently accused of the white collar crime. Our aggressive defense team will work to show that you are an upstanding part of the community and did not knowingly engage in criminal conduct. Let us help you through this trying time. Contact our firm today to get started.