new york penal law 470 15 money laundering in the second degree

Understanding Money Laundering Charges Under NY Penal Law 470.15

Money laundering accusations can have severe criminal penalties in New York. Being charged under NY Penal Law 470.15 for money laundering in the second degree is a Class C felony. Let’s break down this statute, potential sentences, and legal defenses.

What is Money Laundering in the Second Degree?

Under NY Penal Law Article 470, a person commits money laundering in the second degree when they conduct financial transactions knowing the money involved represents the proceeds of criminal activity, and:

• The value exceeds $50,000
• The transactions were part of a scheme to generate over $50,000 from criminal activity

For example, someone who knows money was obtained illegally through drug trafficking and then deposits it in a bank account could face second degree money laundering charges if over $50,000 is involved.

Penalties for Money Laundering in the Second Degree

Since money laundering in the second degree is a Class C felony, potential sentences if convicted include:

• 5 to 15 years in state prison
• Up to $15,000 in fines
• Asset forfeiture
• 5 years post-release supervision

Higher charges and penalties apply if over $1 million is involved or for money laundering related to terrorism.

Defending Against Money Laundering Accusations

Some possible defenses against NY money laundering charges include:

• You did not know the money came from illegal activity
• The money did not exceed $50,000
• You did not conduct any financial transactions with the money
• The money was obtained legally
• You were under duress or coercion

An experienced white collar crimes lawyer can evaluate the evidence and build the strongest defense strategy for your case.

Steps if Charged with Money Laundering

If facing accusations of money laundering in New York, key steps to take include:

1. Decline to answer any questions until you have legal counsel
2. Hire an experienced NY money laundering defense lawyer right away
3. Follow your lawyer’s instructions about responding to investigators or making statements
4. Work closely with your lawyer to construct your defense
5. Have your lawyer preserve financial records and other evidence
6. Attend all required court appearances until your case resolution
7. Avoid any legal issues while out on bail that could impact your case

Choosing the Right Lawyer for Your Case

When facing money laundering charges, key traits to seek in a lawyer include:

• Extensive experience defending NY money laundering cases
• Successful track record getting charges reduced or dismissed pre-trial
• Knowledge of federal money laundering laws as well
• Resources to build a strong defense and take your case to trial
• Ability to negotiate firmly with prosecutors
• Responsive communication and excellent client support

Don’t leave your future up to chance. An experienced NY money laundering defense lawyer can protect your rights, freedom, and reputation.

Sources:

• https://criminaldefense.1800nynylaw.com/new-york-penal-law-470-15-money-laundering-in-the-second-degree.html
• https://ypdcrime.com/penal.law/article470.php
• https://casetext.com/statute/consolidated-laws-of-new-york/chapter-penal/part-4-administrative-provisions/title-x-organized-crime-control-act/article-470-money-laundering/section-47015-money-laundering-in-the-second-degree
• https://www.nysenate.gov/legislation/laws/PEN/P4TXA470
• https://fastlawpc.com/new-york-money-laundering/
• https://criminallawsny.com/article-470-470-00-470-25-money-laundering/