Money laundering is the process of hiding the source of money, usually illegally obtained money. It is both a federal and a state crime, punishable by jail or prison time, probation, community service and significant fines. Because most cases involve multiple criminal offenses, not just money laundering, the prison time and the amount of fines can be significant.
Money laundering refers only to the act of transferring or receiving the money - possessing the money is not a crime per se, unless an individual knew the money was derived from a criminal activity. For example, if your brother is a drug dealer and gives you money to put in your bank account, you could easily be expected to know that the money was illegally obtained. However, most money laundering cases are far more complex.
Former Prosecutor and Certified Criminal Trial Lawyer
At our Toms River, New Jersey, law firm, our attorney, David T. Schlendorf, handles both state and federal money laundering cases. Money laundering can be complex, requiring knowledge of accounting and finance to trace the source and the journey of the money. Attorney Schlendorf, a former prosecutor and certified criminal defense attorney, knows how to unravel complex financial transactions that frequently hide money laundering. Contact him if you have been charged or believe you may be charged with money laundering.
By uncovering the sequence of events, he is able to determine whether his client was actually involved in the activity. He is also able to identify mitigating circumstances that could work to reduce penalties or result in an acquittal.
Examples of Money Laundering
Many money laundering cases involve drug trafficking and other drug crimes. Operators of drug distribution schemes may set up a small, cashed-based business where it is difficult to track the sources of revenue. Another example is running illegally obtained cash in amounts under $10,000 through a small business, thus avoiding the trigger that requires bank employees to report any deposits of $10,000 or more.
If you have been charged with any type of money laundering, contact The Law Offices of David T. Schlendorf to learn how an experienced lawyer can protect your rights and mount a strong defense. The firm serves clients across the United States and throughout New Jersey, including people in communities such as Toms River, Freehold, Asbury Park, Manalapan, Marlboro and Atlantic City.