Money laundering charges stem from violations of California state laws and federal laws.
The minimum penalty for a conviction in these situations depends on the specifics of the case in question, but the first step to take when charged with money laundering is to contact a qualified Los Angeles money laundering attorney who can represent your interests and make sure that your rights are protected.
Prosecutors in California can choose to pursue charges in money laundering cases as either a misdemeanor or a felony. This usually depends on the type of activity associated with the “dirty money,” the amount of money involved in the alleged crime, and the extent of the money laundering network. In larger and more serious cases connected to organized crime, a defendant in a money laundering case may also face RICO or racketeering charges. Read on to discover more on potential sentences for money laundering in California.
California’s Penalties For Money Laundering
The lowest form of money laundering is misdemeanor money laundering and carries with it the following possible penalties:
- Jail Time:Up to one year in either county jail or state prison.
- Fine:No more than $1,000.
- Combination:Jail time and a fine.
For defendants facing felony money laundering charges, however, the consequences are more intense:
- Jail Time:A minimum sentence of 16 months and up to four years in jail.
- Fine: This time the fine is a staggering $250,000 or twice the amount of money laundered. For the purposes of calculating the fine, the court imposes the higher of the two amounts.
- Combination:Jail time and a fine.
From looking at these few bullet points, it should be clear that a misdemeanor money laundering charge has no set minimum penalty. Instead, the court is limited to a maximum jail sentence of one year and a maximum fine of $1,000. However, a felony money laundering conviction features a minimum jail sentence of 16 months and a minimum fine of $250,000.
Penalties Federal Money Laundering Convictions
Federal money laundering charges are even more serious than felony charges under the California state penal code. This is because the federal government rarely gets involved in these kinds of cases unless there is evidence of organized crime, drug trafficking, federal tax evasion, and similar issues. If you have been charged with money laundering in a federal court, contacting an experienced money laundering attorney is the most important step toward securing the best possible outcome.
The penalties for a federal money laundering conviction include the following:
- Jail Time:A maximum sentence of 20 years in a federal prison
- Fines: $500,000 or twice the amount of money that was laundered. Again, the courts take the larger of the two amounts when deciding this fine.
- Combination:Jail time and a fine.
Key Components of a Money Laundering Case
In California, the law is very straightforward regarding what the prosecution must prove in a money laundering case. To be convicted of such a crime, it must be shown that you performed at least one illegal monetary transaction at a credit union, bank, or other financial institution. This transaction or set of transactions must be shown to total more than $5,000 over a seven-day period OR more than $25,000 over a thirty-day period. However, simply performing those transactions is not enough for a money laundering conviction.
It must also be shown that you intended to make that transaction (or series of transactions) for the purpose of carrying out or funding an illegal activity. One way that the prosecution can prove this is by showing that you made the transaction with full knowledge of the “dirty origins” of the money.
Activities Considered Money Laundering
Activities that are illegal to fund—and thus are often cited in money laundering cases—include terrorism, human trafficking, drug trafficking, organized crime, child pornography, extortion, embezzlement, violent crimes, sexual crimes, and more. This means that paying for those activities—or using money obtained through those activities to invest in other financial endeavors in an effort to “launder” or “clean” the money—is considered money laundering.
Combatting Money Laundering Charges in California
Money laundering is a serious crime whether it is prosecuted on the state or federal level. Even a state-level misdemeanor can carry up to one year in jail and a fine of up $1,000. If you have been charged with money laundering of any kind, the first step you should take is to find a reputable, experienced Los Angeles criminal lawyer. Fill out the form on the right side of this page or call 310-997-4688 to receive a FREE initial consultation from the Simmrin Law Group.
Don’t hesitate—call today!