Miami Money Laundering Attorney

Money laundering is the act of disguising the proceeds of a criminal enterprise as legitimate funds. It is a serious state and federal crime with heavy fines and severe penalties. The federal government takes money laundering very seriously because it allows criminals to profit from illegal activities and can be used to finance terrorism. The U.S. Department of Justice has dedicated significant resources to investigating and prosecuting money laundering cases. If you are being investigated or are facing a criminal charge of state or federal money laundering, it is critical to consult with an experienced Miami money laundering attorney as soon as possible to ensure that your rights are protected. You need the counsel of an experienced lawyer to guide you through the process and maximize your chances of resolving your case with a favorable outcome.

What is Money Laundering?

Money laundering offenses involve disguising criminal activity’s illegal money as legitimate funds. It is a complex process that involves transferring money or assets through various financial institutions, accounts, and legitimate businesses to conceal its source and ownership. Money laundering can be used to finance terrorism, evade taxes, or hide the profits of illegal activities.

There are many ways that people can attempt to launder dirty money in Miami, and the specific method used may depend on the amount of money involved, the complexity of the scheme, and the resources available to the perpetrator. Some standard methods of money laundering in Miami include:

  • Structuring: This involves breaking up large sums of money into smaller amounts to avoid triggering financial reporting requirements.
  • Smurfing: This involves using multiple individuals to make small deposits into various accounts to avoid detection.
  • Trade-based laundering: This involves overvaluing or undervaluing goods or services in international trade transactions to move money across borders.
  • Real estate: This involves using the illegal funds of a criminal enterprise to purchase real estate, which can then be sold for clean funds.
  • Casinos: This involves using casinos to exchange large amounts of cash for chips or other financial instruments, which can then be cashed out or transferred to other accounts.
  • Money service businesses: This involves using currency exchange centers or check-cashing stores to transfer funds between accounts or exchange cash for other financial instruments.
  • False invoicing: This involves creating fake invoices or other financial documents to justify money movement between accounts and make it appear from a legitimate source.
  • Hawala: This is an informal, international money transfer system commonly used in the Middle East and South Asia. It involves transferring money through a network of brokers, who take a commission for their services.
  • Offshore accounts: This involves transferring illicit proceeds to bank accounts in foreign countries, which may have more lenient financial regulations and can make it easier to conceal the true owner of the funds.
  • Cryptocurrencies: This involves using cryptocurrencies such as Bitcoin to transfer funds anonymously.
  • Political campaigns: This involves using campaign contributions to launder money.
  • Nonprofit organizations: This involves using charitable or other nonprofit organizations to transfer funds in a way that conceals their true source.
  • Underground banking: This involves using underground or informal financial systems to transfer funds without authorities’ knowledge.
  • Fraudulent loans: This involves obtaining loans using false information or documentation and then using the proceeds to launder money.

These are just a few examples of how people can attempt to launder money in Miami.

Federal Money Laundering Statutes

Under the United States Code, two separate federal laws prohibit money laundering: 18 U.S.C. Section 1956 and 18 U.S.C. Section 1957. These two provisions have different elements and carry different penalties.

18 U.S.C. Section 1956 prohibits a wide range of money laundering activities, including the concealment, disguising, or disguising of the proceeds of specified unlawful activity (SUA). To be convicted under this section, the government must prove that you conducted or attempted to conduct a financial transaction involving the proceeds of an SUA with the intent to promote the SUA or with the intent to conceal or disguise the nature, location, source, ownership, or control of the proceeds. The SUA can include various federal and state crimes, such as drug trafficking, securities fraud, and organized crime.

18 U.S.C. Section 1957 prohibits the knowing concealment or money laundering of more than $10,000 in the criminally derived property. To be convicted under this section, the government must prove that you knew the property was derived from some form of criminal activity and that you knowingly engaged in a financial transaction involving the property.

Federal prosecutors in Miami often charge other white-collar crimes together with charges of money laundering. These may include bankruptcy fraud, mortgage fraud, health care fraud, tax fraud, wire fraud, mail fraud, bank fraud, and drug crimes

The penalties for a conviction under either money laundering statute can be severe, including fines and imprisonment. The specific sentence will depend on the circumstances of the case and the severity of the underlying crime. If you are being investigated or charged with money laundering under either of these sections, it is vital to seek the advice of an experienced criminal defense attorney as soon as possible.

Florida Money Laundering Statute

Money laundering under Florida law is prohibited by Florida Statutes Chapter 896. Like federal law, Florida law prohibits conducting financial transactions involving the proceeds of an SUA with the intent to promote the unlawful activity or to conceal or disguise the nature, location, source, ownership, or control of the proceeds. It also prohibits transporting or attempting to transport a monetary instrument or funds with the intent to promote the SUA or to conceal or disguise the proceeds.

Although there are some differences in the specific penalties for a conviction of money laundering under federal law and Florida law they can both can carry significant fines and prison sentences. An experienced criminal defense lawyer can advise you on the specific laws and penalties that apply if you are being investigated or charged with money laundering.

Penalties for Money Laundering

The criminal penalties for a conviction of money laundering in Miami under both state and federal law can be severe, and the specific sentence will depend on the circumstances of the case and the severity of the underlying crime.

Federal Money Laundering Penalties

Under the Money Laundering Control Act, a person convicted of money laundering can be sentenced to up to 20 years in prison and fined up to $500,000 or twice the value of the property involved in the transaction, whichever is greater. If money laundering involves proceeds from certain specified crimes, such as terrorism, drug trafficking, or organized crime, the maximum prison sentence increases to 30 years.

Under the Bank Secrecy Act, a person convicted of money laundering can be sentenced to up to 10 years in prison and fined up to $500,000 or twice the value of the property involved in the transaction, whichever is greater.

In addition to imprisonment and fines, a person convicted of money laundering under federal law may be ordered to pay restitution to any victims of the underlying crime, a civil penalty, and may be subject to asset forfeiture.

Florida State Money Laundering Penalties

If you are convicted of money laundering under Florida law, you may be sentenced you can be sentenced up to 30 years in prison. You can also be required to pay a fine in addition to any other penalties. The amount of the fine will depend on whether this is your first offense or a subsequent violation. For a first offense, the fine may be up to $250,000 or twice the value of the financial transactions involved in the crime, whichever is greater. For a second or subsequent offense, the fine may be up to $500,000 or five times the value of the financial transactions, whichever is greater.

The specific sentence will depend on the circumstances of the case and the defendant’s criminal history. A skilled criminal defense attorney can help you understand the potential penalties you may be facing and work to mitigate the consequences of a conviction.

Defenses to Money Laundering in Miami

Some common defenses to money laundering in Miami include:

  • Lack of knowledge: To be convicted of money laundering, the government must prove that you knew the funds involved in the transaction were derived from criminal activity and that you intended to conceal their illegal source. If you did not know that the funds were illegal or did not intend to conceal their source, you might have a defense against the charges.
  • Entrapment: If you were induced or persuaded by law enforcement to participate in the money laundering scheme, you might be able to raise the defense of entrapment. This defense may be available if you can show that you were not predisposed to commit the crime and that the government induced you.
  • Lack of intent: To be convicted of money laundering, the government must prove that you had the specific intent to promote a criminal enterprise or conceal the illegal nature of the funds. If you did not have this intent, you might have a defense to the charges.
  • Duress: If you were coerced or threatened into participating in the money laundering scheme, you might be able to raise the defense of duress. This defense might be available if you can show that you participated in the scheme because you were threatened with severe harm or injury if you did not comply.

These are just a few examples of the defenses available in a money laundering case. The specific defenses that apply in your case will depend on the circumstances of the charges and the evidence against you. A skilled criminal defense attorney can help you understand your options.

Experienced Miami Money Laundering Defense Lawyer

If you are facing money laundering charges in Miami, it is crucial to seek the help of an experienced Miami money laundering defense lawyer. An experienced money laundering attorney can provide invaluable assistance in navigating the complex legal system and will be able to evaluate your case and determine the best course of action. They can help you understand your rights and work to protect them throughout the legal process. An experienced attorney may be able to present a strong defense at trial, reduce or dismiss charges, or secure a more favorable plea agreement.

By taking the immediate action of hiring an attorney to defend yourself, you are minimizing the chances that your criminal case will have lasting consequences for your career, personal life, and reputation.

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