Money laundering is any financial transaction that was made to further criminal activity or to process funds that were obtained during criminal activity. This might be a way to hide money that someone earned unlawfully. Someone facing money laundering charges can be charged with a state or federal charge. They may also face racketeering or RICO charges if they were involved in organized crime in the State of California. At the the Law Offices of John D. Kirby, we represent those facing money laundering charges.
Elements of a money laundering case
In California, a state prosecutor must show financial transactions that meet criteria in the Penal Code. Qualifying transactions include bank deposits, withdrawals, fund transfers, wire transfers, payments, and more. The defendant must have engaged in the transaction through a financial institution listed by state law. They must have performed one transaction or a series of transactions within seven days and that total over $5,000. In addition to showing evidence of these financial transactions, the prosecutor must establish their intent to participate in money laundering.
A conviction for one offense of money laundering can result in a sentence of up to one year in jail. Some California laws set increased terms of imprisonment that correlate directly with the value amount of the transaction. A conviction may also require a fine of up to $250,000 or double the value amount of the financial transactions, whichever amount is greater. If they have a prior conviction for money laundering, the fine can increase up to $500,000 or five times the value amount of the financial transactions, whichever is greater.
Call to Schedule a Free Consultation With a Criminal Defense Lawyer Today
If you or a loved one are facing money laundering charges in California, call to schedule a free consultation with a criminal defense attorney at the Law Offices of John D. Kirby . Call us at 619-557-0100 to speak with our friendly staff. We look forward to hearing from you.