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An effective defense against money laundering charges

On Behalf of | Dec 10, 2021 | White-Collar Crimes

White-collar criminal charges have the potential to bring life-altering penalties if convicted of these allegations. Money laundering is a common type of white-collar crime, and even though these charges lack an element of violence, the implications are quite serious. This is a specific type of scheme commonly utilized by Michigan criminal organizations to hide and use illegally obtained money effectively and without detection.

Money laundering schemes are often complex, involving multiple parties and complicated steps. If you are facing allegations of this type of criminal offense, it is in your interests to act immediately to build a strong defense strategy that will allow you to effectively confront these charges. The right strategy depends on the details of your individual situation and the evidence brought by the prosecution.

How does money laundering work?

Money laundering involves hiding and integrating funds obtained through illegal means in a way that allows the individual or organization to use these funds without detection. The process typically involves three steps, placement, integration and layering. Details of these steps include:

  • Placement involves placing the money with a legitimate financial institution in a way that does not attract suspicion.
  • Layering is the process of making the funds look legitimate through a series of transactions and bookkeeping tricks.
  • Integration is the process of withdrawing the funds from the financial institution and using them for various purposes.

While these are the most common steps in the money laundering process, it can differ from case to case. Each situation is different, and these cases can be extremely difficult to investigate and prosecute effectively due to their complexity and the steps involved. Money laundering methods can include inflating daily cash receipts, investing in easily moved commodities, gambling schemes, counterfeiting, founding shell companies and more. Money laundering can also happen online.

The right approach

The right approach for your defense is unique to your individual situation. Your alleged role in the money laundering scheme, your criminal record and other factors can determine the specific charges you are facing and how to best defend yourself. No matter what you are facing, it is helpful to remember that you are innocent until proven guilty, and you have a constitutional right to defend yourself against any type of criminal charges.