New York Money Laundering Lawyer

If you have been charged with money laundering, now is the time to call a New York criminal defense lawyer. Money laundering is a serious crime, under both state and federal laws. If convicted, you could face high fines and a long prison sentence.

Money laundering charges often accompany other serious charges, such as tax evasion, selling stolen goods, drug distribution or manufacturing, and trafficking.

You need an experienced New York money laundering lawyer who can defend you in court. If you are facing financial criminal charges in New York, call an adept white collar attorney to discuss your case.

Defining Money Laundering

Someone who tries to disguise criminal proceeds as legally earned money could face money laundering charges. Here is a common example of money laundering in New York: someone earns cash through criminal activity, such as prostitution or selling stolen goods.

They then set up a seemingly legitimate business and process fake transactions. Then, they claim that the illegally earned money came from the apparent legitimate business transactions.

In this way, the origin of the criminal profit is concealed through the fake company and can be used without the suspicion that the money came from criminal activity.

Money Laundering Charges in New York

New York state law defines four degrees of money laundering ranging from the least serious (4th degree) to the most serious (1st degree). The severity of the crime, the specific method of concealment, and the amount of money involved all determine which degree of money laundering someone could face.

The degree of the crime also dictates the possible punishment someone could face if convicted.

  • Fourth-degree, a class E felony, punishable by up to four years in prison
  • Third-degree, a class D felony, punishable by up to seven years in prison
  • Second-degree, a class C felony, punishable by up to 15 years in prison
  • First-degree, a class B felony, punishable by up to 25 years in prison
  • In addition to a prison sentence, someone convicted of money laundering in New York may be required to pay a steep fine. New York Penal Law Section 470.25 allows courts to impose fines up to twice the amount of money involved in the offense.

    Given the stiff potential penalties for conviction, anyone charged with money laundering in New York should call a New York money laundering lawyer.

    Facing Federal Charges for Money Laundering

    Both state and federal law prohibit money laundering. Many accused of money laundering are prosecuted against federal law. When federal prosecutors file money laundering charges, they often file other similar charges stemming from the alleged crime.

    One such related charge is tax evasion. Obviously, those who launder illicit profits are unlikely to report that income on their federal taxes returns.

    Most federal prosecutors see money laundering and tax evasion as two sides of the same coin and can charge one defendant with both crimes. Like money laundering, tax evasion is a felony meaning that anyone convicted could face time in federal prison.

    Benefit of a Lawyer 

    White collar criminal cases are complicated because they require intense analysis of financial data.

    If you are facing money laundering, tax evasion, or related charges, you need an attorney who can handle the complexities of your case. Call a New York money laundering lawyer now to learn how an attorney can help you.