In general, money laundering schemes are used to conceal illegally obtained or acquired financial gains. These schemes typically attempt to ‘launder’ money to make it appear that the funds were acquired through legitimate and legal sources. Money laundering violates state and federal laws, and accordingly, defendants can be charged with state and federal crimes.
If you have been accused of money laundering, you need an attorney who has experience defending clients facing these charges. Attorneys at Vinas & Graham, PLLC, know that the consequences of a money laundering conviction are significant, and they provide aggressive representation for clients facing state and federal charges.
Shell Company Or Cover Business
Using a shell company or a cover business is one of the most well-known money laundering schemes. Illegally acquired funds are often run through ostensibly legitimate companies and co-mingled with business profits to conceal the origin of the illegally obtained money. A classic money laundering scenario is using a restaurant to clean cash by mixing the unlawful funds with legitimate restaurant profits.
Cryptocurrency For Money Laundering
Investing in cryptocurrency is a relatively new money laundering scheme. Cryptocurrency transactions are not heavily regulated by the government. These transactions can be difficult to trace, making it harder to discover and pursue money laundering operations. Even when authorities suspect illegal funds are being cleaned through crypto transactions, gathering evidence to prove their allegations can be challenging.
Gambling Schemes
Gambling operations are frequently used to launder money. Casinos and online gambling sites are common places to place bets with dirty money. When players cash out their earnings, they have a paper trail to use as evidence of ‘legitimately’ gained profits. Gambling is a high cash flow business, which makes them ideal operations for money laundering schemes.
Using Cash To Avoid Detection
Cash deposits and other banking transactions are often flagged and investigated if they meet certain qualifications. Banking institutions are often avoided to escape suspicion, and large amounts of money are kept on hand instead. This is why illegal activities are often suspected when authorities discover significant amounts of cash in someone’s possession.
Defending Money Laundering Charges
Money laundering allegations often accompany charges for drug trafficking, firearms trafficking, embezzlement, and other crimes involving illegally obtained funds. However, these charges do not have to result in convictions, especially when you have an experienced attorney to defend your case.
If you have been accused of money laundering or other criminal conduct, an attorney at Vinas & Graham, PLLC, can help. We know that people who deal with large amounts of money are at risk of being charged with money laundering and other financial crimes, even when they haven’t intentionally committed a crime.
Contact our office at 713-229-9992 or submit an online form to schedule a consultation with one of our criminal defense attorneys. We have over 30 years of combined experience defending clients in complex criminal matters. Follow our Facebook page to learn more about our attorneys and the types of cases that we take on.
