Money Laundering Charges in Miami: Penalties and Defense

Money Laundering Charges in Miami: Penalties and Defense

Money laundering can lead to some pretty serious charges in Miami. But what exactly is money laundering, and what are the penalties if you’re convicted? This article will break it down in simple terms and talk about some defense strategies that could help.

What is Money Laundering?

Money laundering is when someone tries to hide the source of money obtained illegally to make it look like it came from a legitimate source. It’s a way for criminals to try and “clean” dirty money.

Some common examples are:

• A drug dealer deposits cash from drug sales into a bank account under a fake business name
• Someone wins money illegally gambling and then reports it as lottery winnings
• An embezzler funnels stolen money through a shell corporation to make it appear as legitimate income

As you can see, the goal is to try and conceal the original criminal source of the funds. This allows criminals to use the money more freely without getting caught.

Money Laundering Penalties in Florida

If your convicted of money laundering in Florida, the penalties can be pretty steep depending on the amount of money involved and number of transactions. Here’s an overview:

• Less than $300 – Misdemeanor, up to 1 year in jail
• $300 to $20,000 – 3rd degree felony, up to 5 years in prison
• $20,000 to $100,000 – 2nd degree felony, up to 15 years in prison
• Over $100,000 – 1st degree felony, up to 30 years in prison

In addition to jail time, your also looking at fines up to $10,000 per transaction. And if convicted, the government can seize any property involved in the money laundering – that could include cars, houses, bank accounts, etc. They can also impose civil penalties of up to $10,000 per transaction.

Bottom line – money laundering is serious buisness. Your looking at potential decades behind bars if convicted of laundering large sums of money.

Federal Charges

Money laundering often violates both state and federal law. And federal charges tend to be more severe:

• Up to 20 years in federal prison
• Fines up to $500,000
• Forfeiture of any property connected to the crime

The feds can also hit you with civil penalties of up to $10,000 per transaction on top of any criminal fines. So your looking at some hefty penalties all around if the feds decide to prosecute.

Statute of Limitations

The statute of limitations refers to how long the government has to charge you with a crime after it’s committed. For money laundering in Florida, they have:

• 5 years for a 3rd degree felony
• 10 years for a 2nd degree felony
• 15 years for a 1st degree felony

So if it’s been more then 15 years since the alleged crime, you can’t be charged. The clock starts ticking from the last criminal act, not when the money laundering is discovered.

How is Money Laundering Investigated?

Law enforcement has several tools they use to detect and investigate potential money laundering:

• Reviewing bank records, deposits, wire transfers for suspicious activity
• Undercover operations and informants
• Obtaining search warrants for financial documents
• Analyzing real estate transactions, large purchases, shell corporations

Red flags for money laundering can include:

• Deposits that don’t match reported income
• Suspicious wire transfers or withdrawals
• Rapid movement of funds between accounts
• Use of shell companies without clear business purpose

If they uncover shady financial dealings, they’ll dig deeper with warrants, surveillance, and interviews.

Money Laundering Defenses

If your facing money laundering charges, some possible defenses include:

• Lack of criminal proceeds – Argue the money came from legal sources, not criminal activity.
• Lack of intent – You weren’t trying to conceal illegal funds or had no knowledge of it.
• Entrapment – You were illegally induced by police into committing money laundering.
• Statute of limitations – Too much time has passed since the alleged crime.

An experienced money laundering defense lawyer will thoroughly analyze the prosecution’s evidence and determine the best defense strategy for your specific case. They can also negotiate with prosecutors for reduced charges or sentencing leniency. Don’t go it alone against these complex charges.

Takeaways

• Money laundering carries steep criminal penalties in Florida, including years in prison.
• Federal charges can be even more severe with fines up to $500,000.
• Police have many tools to detect suspicious financial activity.
• A skilled lawyer can raise viable defenses and negotiate with prosecutors.

Money laundering allegations are serious business with potentially drastic consequences. Work with an experienced attorney to protect your rights and future.