Money Laundering: White Collar Crime

Money Laundering is simply taking traditionally taking money that came from an illegal source and originally it was meant to be laundered, where it turns out and it shows up as legitimate money where you run it through a company and  you can’t tell what really came through the company versus anywhere else. When it appears you were, you have obtained from those funds from a legitimate source. Some people simply run ‘em through a variety of bank accounts and transfer them and make deposits and switch over so on and so forth. Today in the federal system that is still true but there is also a transactional money laundering statue that simply provides that if you take money from a known illegal source and you simply make on transaction with it, any kind of transaction with it – a wire transfer, a deposit, handing over a sack of cash to someone that in itself can be money laundering. You find that to some degree in state courts, usually don’t find state prosecutors who are gonna include money laundering charge. But occasionally you do, and it’s basically the same thing. Taking some known tainted money and making a transaction with it.

What is Money Laundering?


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