Hinton & Bailey LLP
Houston Money Laundering Defense Lawyer
Funneling cash earned from criminal activity into a legal enterprise with the intention of evading the scrutiny of financial institutions constitutes money laundering. Large sums of money that cannot be concealed through typical bank transactions can give a hint of illegal activities, so launderers are keen to erase the trails of these funds. In plain view, laundered funds are “cleansed” so suspicion is not drawn to these high-earning transactions. In the Texas Federal system, money laundering is penalized depending on the amount of money laundered; hence, it violates both state and federal laws in the same transactions.
Texas Laws on Money Laundering
In the Texas penal code just as under federal law, it is explicitly stated that knowledge of the crime, such as investing, receiving, or facilitating proceeds of criminal activity, could convict a person for money laundering. However, the tricks of the trade to conceal the illegal funds varies are complicated for anybody, particularly those without extensive experience in this facet of the law. With this in mind, a Texas defense lawyer, with superb reputation on the investigatory environment of money laundering, can suppress the motion to diminish the charges or may even position a dismissal of charges.
The severity of penalty for money laundering is imposed differently on multiple federal circuits; thus, sanctions are derived from either the cause or effect of the laundering act. For Texas law, punishment for money laundering depends on the alleged amount of proceeds used to further a crime. The involvement of money caused the illegal practice, that’s why it equally weighs with the penalty.
The following are the charges depending on the amount of money laundered:
State Jail Felony:
the value of funds involved is $1,500 or more but less than $20,000;
Third Degree Felony:
the value of funds involved is $20,000 or more but less than $100,000;
Second Degree Felony:
the value of funds involved is $100,000 or more but less than $200,000;
First Degree Felony:
the value of funds involved in the event is $200,000 or more.
Defenses in money laundering
The practice of money laundering is vulnerable to weak financial systems and is easier for countries with bank-secrecy laws, making offshore accounts highly manageable for criminals.
If you are charged with money laundering, it is best to be represented by a Houston federal practitioner to counter the requirements of money laundering laws. The said federal law is quite lenient on the basis of knowledge on ill-gotten cash from uncovered activities. Included in the fiscal investigation are financial analysis and confiscation of bank accounts that will require a lawyer with specialized experience on strict anti-money laundering protocols. To develop a solid defense strategy, it is very crucial to understand the enforcement of laundering laws and how the claws of secrecy laws can weaken the prosecution’s case.
With our years of expertise representing consumers and small businesses, our defense lawyers from Hinton & Bailey could effectively prove that the accused lacks the intention to participate in “washing” money. We, at Hinton & Bailey, will uphold client rights and expand options regarding money laundering case.