Federal money laundering charges will be filed against you if the authorities believe that there is sufficient evidence that you have been using a legitimate enterprise to “launder” money from illicit activities, whether the illegal drug trade, smuggling or other type of offense. Hiding the real source of money is illegal, and once charges have been filed for the offense, you are caught in the federal justice system - a very dangerous place to be.
The penalties that are imposed in federal court can be extensive, and there will be other consequences, including the potential forfeiture of personal property, if convicted. Various federal agencies are involved in seeking out those who are involved in money laundering, and the federal authorities have greatly stepped up their focus on these crimes, particularly with regard to funds that are believed to have been funneled to those involved in terrorist activities.
The Governing Federal Statutes
Money laundering is prosecuted under two core federal statutes:
- 18 U.S.C. § 1956: The primary money-laundering statute. Knowingly conducting a financial transaction involving the proceeds of specified unlawful activity, with intent to promote the underlying crime, to conceal the nature of the proceeds, or to evade a reporting requirement. Up to 20 years in prison per count and fines of up to $500,000 or twice the value of the transaction.
- 18 U.S.C. § 1957: Engaging in a monetary transaction of more than $10,000 in criminally derived property. No requirement to prove intent to conceal; the knowledge element alone carries up to 10 years.
Wisconsin does not have a general state-level money-laundering statute; these are federal cases. The government must prove the funds came from specified unlawful activity, and that element is frequently the weakest part of the case. Structuring under 31 U.S.C. § 5324 is a separate but often-paired charge, as are the false-statement (§ 1001) and bulk-cash-smuggling (31 U.S.C. § 5332) offenses.
Federal Law and Money Laundering Charges
Other charges could be filed under various U.S. laws, including 18 USC §2 (aiding and abetting), 18 USC §371 or 18 USC §1956(h) (conspiracy), 18 USC §1001 (false statements), 18 USC §1510(b)(3)(B)(i) (obstruction of 18 USC §1956 or 18 USC §1957 or Title 31 investigations), 18 USC §1621 (perjury), 18 USC §1960 (illegal money transmitting business), 31 USC §5322 (Title 31 criminal penalties), 31 USC §5324 (structuring), 31 USC §5332 (bulk cash smuggling), 18 USC §1028 and 18 USC §1028A (identity theft) as well as the RICO Act.
Do You Need a Wisconsin Money Laundering Defense Lawyer?
If you are facing charges for money laundering, your legal situation is extremely dangerous. The penalties that are imposed upon you if you are convicted, based upon the law that is violated in the case, can include the following:
- Up to $250,000 in fines or the value of the property, funds or monetary instruments in the case.
- Up to 10 years in federal prison.
- Forfeiture of assets.
In some cases, the penalties that are imposed will reflect each instance of money laundering.
If you are facing federal charges for money laundering, it is crucial that you act quickly and retain defense counsel to protect you. The consequences are so severe in a conviction that everything possible must be done to attempt to avoid being found guilty. These cases involve extensive documentation, both digital and hard copies, and the interpretation of this information is critical. The conclusion that is reached by the authorities is that you were involved in money laundering, but that may not be incorrect. Your future essentially lies in the hands of your attorney and the ability with which your case is defended. The first action to take is to retain counsel and discuss what happened. Early involvement can be a critical point in the final outcome of your case.
Informants can be paid for original information leading to an arrest in a money laundering charge. Untrustworthy witnesses who are seeking monetary gain for information could cause you to face federal criminal charges for money laundering, against which you must now either defend aggressively or run the risk of incurring harsh penalties and financial losses.
Speak to a Wisconsin Money Laundering Defense Attorney Today
At Cafferty & Scheidegger, S.C., our founder, Patrick K. Cafferty, has extremely high peer review ratings, and is listed as AV Preeminent® by Martindale-Hubbell® and 10.0 Superb on Avvo. He is also listed in Best Lawyers and in Wisconsin Super Lawyers for 2008 - 2020. He defends people who are facing federal criminal charges throughout Southeastern Wisconsin. If you are accused of money laundering, rapid defensive action must be taken. The earlier the firm gets involved, the more opportunities may exist to have the charges dismissed or reduced. Contact the firm at once if you are facing charges. Your case will be handled by one of the state’s most respected and well-connected federal criminal defense lawyers. Having served as a federal crime defense lawyer since 1994, Mr. Cafferty and our team have the experience, knowledge and track record you want on your side. Call now.
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