What is Money Laundering?
What is money laundering? It is a sophisticated and criminal means of “cleaning” up any dirty trail that illegally obtained funds could leave to make it appear as legitimate income to banks. It’s often directly associated with organized crime rings, domestic and foreign terrorism. Money laundering is the method by which illegally obtained money – like money from drug sales – is funneled through a seemingly legitimate business to cover the illicit trail from whence it came. A variety of money laundering schemes exists today due to the technological advances that make it possible. These include, but are not limited to: digital currencies like the popular Bitcoin currency, standard denominational currencies, securities, wires and a number of other different methods. In a classic money laundering scheme, “dirty” money is layered into “legitimate” money from an existing business to “clean” and cover up its nefarious and illegal trail.
Money Laundering, a White Collar Crime
Money laundering often carries serious charges at both the state and the federal levels. Since money laundering is also seen as a form of tax evasion, the federal authorities will usually take part in the investigation of such matters. Money laundering charges often carry very serious penalties because they are associated, in many cases, with other criminal doings, such as organized crime or drug sales and trafficking. Often the indicted person faces charges at both a state and a federal level, including charges of income tax evasion and RICO related charges. If you have been charged with money laundering—you will want an experienced attorney representing you in a court of law to help facilitate the greatest possible outcome to your benefit. White collar crimes are a serious crime that can carry long term prison sentences, something that only an experienced lawyer can help mitigate. Call (617)523-3500 today.
State & Federal Impact
In many cases of money laundering, both the state and the federal government will levy charges, depending upon the complexity of the scheme. In some instances, criminals have been sentenced to both state and federal time, not served congruently, to account for multiple charges.
If you are facing serious charges that include the laundering of money or other criminal charges, contact the Eisenstadt, Krippendorf & Galvin, LLP right away to receive a free consultation and assessment of your case. Allow us to demonstrate how we can help you with your case.
Call (617)523-3500 today.
Serious criminal charges require very experienced attorneys to procure a positive outcome. At Eisenstadt, Krippendorf & Galvin, LLP, we have a combined 35 years of legal experience. As former criminal prosecutors, we understand how the law works from both sides of the system. Having successfully defended countless clients in the past with related criminal charges, we are confident that we can help you fight your case today. We invite you to Contact Us for your free legal consultation with an experienced criminal defense attorney in Boston. Allow us to demonstrate to you how we can use our knowledge of the criminal system to fight for your rights and for your freedom today.
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