There are several reasons why one would want to engage in trade-based money laundering, including tax evasion; while the drug cartels are turning more and more towards trade-based money laundering to move their currency between countries, you do not need to be associated a drug cartel to be charged with this crime. If you do find yourself charged with trade-based money laundering, it is important to contact a defense attorney. They can review your case and determine the best course of action given your circumstances. At Premier Federal Criminal Defenders, we have experience handling a wide range of white collar crimes in Southern California and can help you understand the charges being brought against you, and we can help you prepare a defense.
Trade-based money laundering is most commonly used to move dirty money between two countries; drug cartels take the money from their drug sales in foreign countries to purchase goods for people in their home country, or the country where they are trying to get the money to. They receive payments in the country that they are shipping the items to. In this complex, roundabout way, the money gets from one country to the next without anyone knowing where it originated. The scope of money laundering is unknown because so much is done behind closed doors.
Penalties for money laundering can vary depending on the scale on which it was conducted, and it is important to have someone experienced in white collar crimes preparing your case. Variables that can affect the outcome of your sentencing include how many prior offenses you have, the value of the transactions, and how many transactions were completed. In the state of California, the amount of time you spend in jail for money laundering is based on the value of the transaction(s), and you can generally expect to face up to one year in jail or prison. You may also face fines of up to $250,000 for first offenses, but that can increase if you have previously been convicted for money laundering. In California, you will also face charges for each transaction or series of transactions that meets the State’s specifications for money laundering; this means that if, for example, you made five separate transactions of $10,000 over a period of months, you could be charged for each of those transactions separately.
One common defense that a defense lawyer can make is that you were unaware of either the origin or the purpose of the money. If you have been charged with money laundering, it is important to contact a defense lawyer quickly to determine the best course of action for your case.
At Premier Federal Criminal Defenders, we have more than three decades of experience defending a wide clientele. If you have been charged with trade-based money laundering it is important to have legal representation throughout the process. Penalties for trade-based money laundering can be severe, and it is important to protect your future. Our defense lawyers can help you navigate the legal system and can provide counsel based on your unique circumstances. Contact us today to schedule a free consultation.