Orange County Money Laundering Defense Attorneys
The crime of money laundering involves moving money through several sources in order to hide the original source of where the money came from and how it was obtained. In simple terms it is making money that came from source “A” look like it came from source “B”. In many instances money laundering involves the commission of other crimes, including drug crimes such as drug trafficking and other serious crimes involving theft crimes (such as embezzlement), fraud or illegal criminal activity. If money is not laundered and an individual attempts to use it, then it may be traced back to its origins and seized by law enforcement. Individuals who often commit the crime of money laundering may be corrupt politicians, terrorists, con-artists, embezzlers, drug traffickers, mobsters and public officials.
Money Laundering in Orange County
The crime of money laundering involves a three step process:
Placement – This is seen as the riskiest stage because the individual laundering the money must put the money into a legitimate financial institution through cash bank deposits. Large amounts of cash can be very suspicious and all bank employees are required to report any high-value transactions that look suspicious or illegitimate.
Layering – This is the most complex step of the money laundering process. It involves transferring or wiring the money through several banks in different countries, accounts, names and currencies. The amount of the money will often be changed through withdrawals, additional deposits and by making high end purchases of expensive motor vehicles, jewelry, diamonds, houses, boats and any other items of extreme value. Basically layering is done as an attempt to make the “dirty” money untraceable.
Integration – This stage is the easiest for the launderer especially if there is no documentation of the previous steps. This is when the money re-enters the mainstream economy looking like legitimate money from a legal source or transaction. During this stage it is very hard to prove that any type of criminal activity has even taken place. Anyone can then use the money however they want.
Orange County White Collar Crimes Lawyers
Money laundering is a white collar crime that will be investigated by many different sources including: local, state and federal investigators that may also include the Department of Justice, the State Department, the Federal Bureau of Investigation (FBI), the Internal Revenue Service (IRS) and the Drug Enforcement Agency (DEA). If convicted of money laundering a person may be sentenced to 1 year in jail to several years in prison. They may also be ordered to pay up to $500,000 in fines.
Please contact the attorneys at Coffey & Coffey immediately if you live in or near Newport Beach, Fullerton, Westminster, Laguna Nigel or Santa Ana, California and are in need of an outstanding Orange County money laundering lawyer. The Orange County money laundering lawyers at Coffey & Coffey help clients accused of complex theft crimes throughout Orange County, California. We are very knowledgeable with both the state and federal criminal court systems. An Orange County money laundering attorney from Coffey & Coffey can begin protecting your legal rights and safeguarding your future immediately.
Are you being investigated for the crime of money laundering? Contact us today!