Money laundering is the act of taking or transferring funds that were obtained through illegal criminal activities, and then transferred into other channels to make the money appear as if it was obtained through legal methods.
Money laundering is both a federal and state crimes as many states have initiated acts pertaining to money laundering.
The basic underlying cause of money laundering is to hide the origin or the source of how the money was illegally obtained. However, it should be known that the IRS investigates money laundering schemes.
If you have been charged with money laundering, you are facing very serious consequences. The IRS and U.S government have income tax laws and money laundering also involves the charge of tax evasion.
If you have been charged with money laundering it is imperative that you seek the advice and counsel of an experienced criminal defense attorney who has a proven track record of winning money laundering cases.
Sometimes, business owners are faced with money laundering charges when they may not have intentionally set out to hide the origins of their money. It is common to associate money laundering with organized crime or the mafia, however money laundering is also a white-collar crime. One example of this is when someone defrauds the Medicaid or Medicare system. When someone is found guilty or charged with Medicaid or Medicare fraud it is assumed that the business owner held back the money that was due the government. The money that was put back into the business instead of being given to the government becomes money laundering.
Money laundering is a very serious charge and usually implies that other charges will follow. Due to the fact that this is a complex crime, you need to hire a criminal defense attorney who has a comprehensive understanding of the charges that you are facing. Do not hesitate, contact an attorney immediately and seek a free evaluation of your case.
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