Title: Money Laundering Charges and Penalties - Federal Criminal Lawyer
Headings: Money Laundering Charges
Money Laundering Charges
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Content: That’s the one that we see most of the time. Now, this is a serious crime. It carries up to 20 years in prison for someone who is convicted. Let’s go through the elements. The first element is that this must involve a financial transaction. And that means you take the money and you go to a bank, or you take the money and you go buy a car, go buy some jewelry. Anything that you do with that money where you’re exchanging it for goods, services, or trying to put it in a bank account is a financial transaction. What is not a financial transaction is if you take that money, give it to someone to hold for you, and all they do is put it in their bedroom or under the mattress. Even though that may be dirty money, it’s not money laundering because there’s no financial transaction. The second element is that the money must be from a particular crime.