The money laundering laws in both state and federal courts are written to cover a broad variety of conduct. Any financial transaction knowingly performed with money obtained from unlawful conduct is arguably a money-laundering crime. Prosecutors use money laundering charges in white collar cases because the potential jail sentences are often much longer than those for the underlying crime itself. Anyone involved in a banking transaction or who uses the services of a financial institution to conduct business can be investigated for money laundering if a prosecutor believes the funds were involved in certain criminal activities. While money laundering charges are used in narcotics prosecutions, all types of factual allegations can include money laundering accusations if a business or an individual does financial deals.
A close cousin of criminal money laundering claims are currency reporting violations. Banking laws require financial companies to become the substantial equivalent of private law enforcement agencies charged with the responsibility to police cash transactions. Any business that takes in cash is subject to tremendous scrutiny by the banking and financial insitutions they deal with. Banks are obligated to report suspicious transactions. Cash deposits exceeding a certain dollar figure must be reported by the intitutions taking in the funds and by the businesses that receive the funds. Banking secresy laws and the Patriot Act have tightened the control of the flow of money to a tremendous degree.
If you, your company, or someone you know and care about is under investigation for activities that involve financial dealings, the chances are very high that prosecutors will consider including money laundering charges in the inquiry and potential prosecution. The consequences can be devastating. The attorneys at Charles A. Ross and Associates are highly experienced at representing individuals and small businesses investigated or formally charged with money laundering or currency reporting violations. We not only have successfully avoided prosecution on behalf of clients, but once charged, we have successfully defended clients against money laundering allegations. The faster experience counsel is brought into a matter, the better the chances of a successful outcome.
Our cases have included:
- Representation of the president of a money transfer business charged with laundering narcotics proceeds.
- Representation of the director of a noted broker-dealer charged with laundering the proceeds of an alleged estate fraud.
- Securities professionals who deposit commission proceeds into accounts maintained at financial institutions.
- Individuals in the gold refining, precious gems, and jewlery industries who deal in cash transactions.