A key part of fighting any criminal charge or knowing when to consider a plea agreement is knowing the crime itself and its potential penalties. For those who have been charged with money laundering, it is imperative to know the law from the outset.
What is money laundering?
Money laundering occurs if a person knowingly takes some form of action to allow illegal behavior to continue, is concealing the illegal behavior or is hiding the source of the activity. If, for example, a person is amassing money through the sale of illegal drugs, another person could take part by taking steps to “legitimize” the money. The person who laundered the money could be charged if they were aware of where the money came from.
The amount of money is integral to these charges. The person must be under the impression that the value or aggregate value of the property is at least $8,000 or its actual value is $8,000 or more. It will be a Class C felony if the value falls below $10,000. They could be fined up to $16,000 or double the value of the property – whichever is more. It will be a Class B felony if the value or aggregate value is at least $10,000. They can be fined up to $25,000 or twice the value of the property.
Money laundering can be serious and a strong defense is imperative
When there is a criminal activity, money laundering is a vital part of the enterprise to try and conceal it. Those who are confronted with charges related to this will need to be fully aware of what they are facing and how it can negatively impact their lives.
This goes beyond the criminal ramifications and extends to their standing in the community. If it is a business that is said to have taken part in these activities, it can hinder their ability to operate. There are avenues of to combat these charges and it is wise to consider all the options. This is fundamental for a viable criminal defense.