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Money Laundering Lawyer in Miami
Money laundering is a serious federal white collar crime. This type of offense is governed not by Florida state law but by federal law. This means that the legal consequences for a conviction of this sort will resort in very serious fines and/or imprisonment.
If you have been charged with a crime pertaining to money laundering, your first step is to understand what you are being charged with and the potential punishment you may face if convicted. The best way to understand and begin to prepare is to seek the services of an experienced attorney, such as Miami money laundering defense attorney Evan Hoffman. With many years of experience as both a prosecutor and a defense lawyer, Evan Hoffman is prepared to explain the elements of your money laundering charges. By explaining these elements, he can give you a better idea of what needs to go into an effective defense strategy.
What Is Money Laundering?
According to Congress’ Money Laundering Control Act of 1986 (MLCA), 18 U.S.C.A. §§ 1956 et seq., money laundering is an illegal activity defined as taking the proceeds of criminal activity and making them appear legal. This offense is counted as a felony.
Most of the money laundered in the United States comes from the marketing of illegal narcotics. Other “laundered” money may come from illegal activities, such as the selling of “black market” goods, and/or services like prostitution and illegal gambling.
A person or entity that obtains large amounts of money through an illegal activity needs to try and “legitimize” their earnings by making it appear that the money was obtained through legal means. Without “legitimizing” their money they are not able to openly place (placement) their money into banks, make large purchases, etc. because governing bodies like the Internal Revenue Service would notice and possibly take legal action against them.
“Placement” is the legal term used for converting cash into legal negotiable means by depositing it into financial institutions, such as banks. Under the federal Bank Secrecy Act of 1970 (BSA), 31 U.S.C.A. §§ 5311 et seq., financial institutions are required to report deposits of more than $10,000 in cash made by an individual in a single day. Therefore, the person or entity may set up a “front” or “façade” business through which they would then pass their illegal earnings making them appear to be legal.
As a federal crime, money laundering carries far more severe penalties than your standard state offense. Consequences will vary based on the amount of money in question, the defendant’s criminal history (if any), and other relevant circumstances.
Money laundering can carry any of the following penalties:
- Up to 20 years in federal prison
- Fines up to $500,000
- Civil liability for twice the value of property or monetary value up to the maximum value of the property or $10,000
Facing Criminal Charges? Contact The Hoffman Firm Today.
Money laundering is a very serious charge and can result in large fines and/or harsh prison sentences if you are convicted. However, there are many ways in which a skilled white collar crimes attorney can help someone facing charges of money laundering, such as mounting a defense based on trying to prove that a greater amount of money was obtained through legal means (the front or façade business) than was obtained through the illegal business.
If you are dealing with charges of money laundering, give The Hoffman Firm a call today and see what plan of action we can recommend for you. Our firm welcomes clients in Miami-Dade County, Broward County, North Miami, and several other areas.
Client-Focused RepresentationOur Firm is dedicated to client satisfaction. We are available 24/7 to help those in need.
Decades of ExperienceAttorney Evan Hoffman has over two decades of experience fighting for the accused.
Premier Criminal Defense FirmExperienced Attorney Evan Hoffman has handled some of the most high profile and complex cases.
Proven Track RecordClient satisfaction is our top priority. At The Hoffman Firm we take great pride in our success and case victories.
Florida Former State ProsecutorAttorney Evan Hoffman has extensive knowledge of the strategies used by prosecutors throughout Florida.
Free Initial ConsultationWe offer free initial consultations to ensure that we have your best interests in mind.