What Is Money Laundering?

An example of money laundering could be a drug dealer who also owns a small business that deals only in cash. The owner collects funds through drug sales, combines them with funds earned from the business, and deposits them all, claiming that the funds were all earned from the business. Once the deposit is complete, the funds will be recorded by the bank as income from the small business, and thereby masking the true origin of some of the funds.

Facing charges of this crime can be very serious; you could suffer from embarrassment, a tarnished reputation, and other hardships just by facing this charge. If you are convicted of this crime, then you could face serious penalties for conviction. If you are charged with laundering $301-$19,999 within one year, then you will face a third degree felony penalty of up to five years in prison for conviction. If you are charged with $20,000 - $99,999, then you will face a second degree felony penalty of up to 15 years in prison. If you are charged with $100,000 or more, then you will face a first degree felony penalty of up to 30 years in prison for conviction.

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At Thomas & Paulk, P.A., we are dedicated to providing excellent service for our clients; we understand the severity of the situation that you face, and you can be sure that we will work with you towards the results that you need. We have been serving the residents of Tampa, Florida in various criminal defense matters for a number of years and we can put this experience to work for you.

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