Money Laundering Charges in Georgia

 

Money Laundering Charges Run Rampant in Georgia

Money laundering has become a huge problem in Georgia recently. With Atlanta being a major hub for business and finance in the Southeast, it unfortunately also attracts a lot of shady characters looking to clean their dirty money.

Just this past May, the GBI busted a charity fraud and money laundering ring right here in Atlanta. They arrested three people – Marlon Kautz, Savannah Patterson, and Adele Maclean – on charges related to financial crimes associated with protests at the planned Atlanta Public Safety Training Center construction site.

According to the GBI press release, “Agents and officers executed a search warrant and found evidence linking the three suspects to the financial crimes. All three charged will be booked into a local jail and will have a bond hearing scheduled soon.”

This case really highlights how money laundering and fraud schemes try to take advantage of current events and popular causes. The defendants allegedly used charity and protest movements as a cover for shuffling around money obtained by illegal means.

U.S. Attorney Ryan Buchanan called money laundering and fraud “top priorities” for federal prosecutors in Georgia. He said these financial crimes “impact real victims” – from individuals to corporations to government institutions.

So how does money laundering work exactly? Well, it’s when criminals try to make dirty money look clean. They take cash gained from illegal activities – like drug dealing, human trafficking, fraud, etc. – and run it through legitimate businesses to disguise where it came from.

Common techniques include:

• Breaking up large amounts of cash into smaller deposits to avoid scrutiny
• Mixing illicit funds with money from lawful businesses like restaurants, car washes, etc.
• Transferring money between various bank accounts or shell companies
• Using cash to buy assets like real estate, gold, art, etc. that hold value and are hard to trace

One recent major case involved dozens of defendants running an intricate web of scams out of Atlanta. The DOJ said they stole over $30 million dollars through business email compromise schemes, romance frauds, retirement account scams, and more.

According to the DOJ press release, “The defendants were charged across several related pending cases. U.S. District Judge William M. Ray, II, sentenced [them] for their respective roles in this criminal scheme.”

Some of the significant sentences handed down include:

• Darius Okang – 7 years 10 months in prison and over $6 million in restitution
• George Adatsi – 5 years 10 months in prison and over $3 million in restitution
• Prince Okai – 4 years 9 months in prison and almost $5 million in restitution

The scale of the financial damage these money laundering operations cause is massive. And the victims are regular hard-working folks, small businesses, and major corporations.

As U.S. Attorney Buchanan said, “The defendants’ sentences should serve as a stark warning to others that fraud and money laundering crimes are top priorities for this office and will be prosecuted to the fullest extent of the law.”

Georgia Money Laundering Laws

Georgia’s money laundering laws are contained in O.C.G.A. § 7-1-915. This statute makes it illegal to engage in financial transactions using money acquired illegally in order to conceal its source. Penalties vary based on the amount of money involved.

For amounts less than $1500, money laundering is a misdemeanor punishable by:

• Up to 1 year in jail
• Up to $1000 fine

For amounts between $1500 and $49,999.99, it is a felony punishable by:

• 1 to 10 years in prison
• Fine up to or equal to the amount laundered

For amounts over $50,000, the possible punishment increases to:

• 5 to 20 years in prison
• Fine up to double the amount laundered

In addition to jail time and fines, those convicted of money laundering in Georgia face asset forfeiture. This means the government can seize any property connected to illegal financial transactions.

Prosecutors don’t need to prove that you knew the money was from unlawful activity to convict you of money laundering. The fact you engaged in transactions to hide the source of funds or evade reporting requirements is enough.

That means even if you unknowingly accept dirty money, you could still be charged if it looks like you participated in disguising it. Ignorance provides little defense under Georgia law.

Federal Money Laundering Laws

Georgia prosecutors often bring charges under federal money laundering statutes as well. These include:

• 18 U.S. Code § 1956 – Laundering of monetary instruments
• 18 U.S. Code § 1957 – Engaging in monetary transactions in property derived from specified unlawful activity

The penalties are similar to Georgia law – fines and imprisonment up to 20 years. But federal charges ratchet up the stakes even more.

A recent case saw Russian businessman Feliks Medvedev indicted on federal money laundering and unlicensed money transmitting charges. According to the DOJ press release, he allegedly moved over $150 million through shell companies.

When state and federal prosecutors team up, they have even more tools and resources to come after money laundering operations. Wire fraud, mail fraud, tax evasion – no financial crime is off limits.

The bottom line is that money laundering is a serious felony charge at both the state and federal level. The consequences can ruin your life – years behind bars, massive fines, assets seized, reputation destroyed.

Defending Against Money Laundering Charges

Facing money laundering accusations in Georgia? Don’t panic – but don’t wait to seek legal help either. An experienced criminal defense attorney can be your best ally.

A lawyer who specializes in financial crimes may be able to get charges reduced or even dismissed. They will also make sure prosecutors follow correct procedures and your rights are protected.

Some possible defenses against money laundering charges include:

• You did not know the money came from illegal activity
• You did not try to conceal the source of funds or commit financial transactions to disguise them
• The money was obtained legally
• You were an unwitting pawn in someone else’s scheme
• The evidence against you is false or flawed

An attorney can evaluate the specifics of your case and decide which defense strategies give you the best chance of success. They may be able to negotiate a plea deal resulting in lesser penalties too.

Don’t go it alone against complex money laundering laws and experienced prosecutors. Hire an expert lawyer to protect your future.

The Bottom Line

Money laundering is big business for criminals in Georgia looking to hide illicit funds. But state and federal prosecutors are cracking down hard on these financial schemes.

Defendants can face years in prison, massive fines, asset forfeiture, and ruined reputations. The penalties only get stiffer as the dollar amounts rise.

If you’re being investigated or charged, retain an experienced criminal defense lawyer immediately. An attorney familiar with money laundering laws may be able to get charges reduced or dismissed. They can also advise you on possible defenses and make sure your rights are upheld.

Don’t leave your fate hanging in the balance. Get knowledgeable legal help fighting money laundering accusations today.