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Matthew A. Radefeld and Daniel A. Juengel

What is money laundering?

On Behalf of | May 13, 2024 | White Collar Crimes |

Money laundering is a serious criminal charge that can lead to time in prison and considerable fines. This is a crime that involves someone taking money that’s gained through illegal means and making it appear as though it was earned in a legal manner. 

These criminal cases often have a considerable paper trail because the process of laundering the money involves multiple steps. For this reason, defendants should ensure they have someone on their side who can step in to review the evidence and help them to find defense strategies for them to face the charges. 

How does money laundering occur?

If a person who has illegally gained money wants to introduce it into the legitimate financial system, they have to give the appearance that it wasn’t illegally gained. They can do this in many ways. For example, they can funnel the money into a nightclub for a for-profit event. Then, they take the money that’s earned at that event and deposit it into the financial system. 

In some cases, money laundering involves a lengthy series of transfers and transactions that make it difficult to trace the money. This trail may involve domestic and international transactions. The goal of this is to make it difficult to prove that the money didn’t come from a legitimate source.  

Combating these charges is a serious matter, so defendants should ensure they get started on their defense strategy as soon as they find out about the charges. Setting the strategy will likely require the assistance of someone who’s familiar with these situations and who’s able to review everything related to the case.