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TAMPA MONEY LAUNDERING ATTORNEY
Experienced White Collar Crime Defense for Money Laundering Charges in Hillsborough and Pinellas County
If you are facing money laundering charges in Florida, you need an experienced Tampa money laundering attorney to help defend you and your interests in court. Luckily, the skilled criminal defense team at Buda Law is here to fight on your behalf and secure the best possible outcome in your money laundering case.
Money laundering is the process of taking funds obtained through illegal activities and disguising them to make them appear legitimate. Whether you’re facing a state or federal money laundering charge, a Tampa white-collar crime attorney on our team will evaluate the facts of your case, build a strong defense on your behalf, and argue your case in court.
Call (813) 322-2832 or send us a message to schedule a free consultation with a white-collar defense lawyer on our team regarding your money laundering case.
What is Money Laundering?
Money laundering is the process of disguising illegally obtained money to make it appear as though it came from legitimate sources. It typically involves three stages, which include:
- Placement, where the illicit funds are introduced into the financial system;
- Layering, where the money is transferred or moved around to obscure its origins; and
- Integration, where the laundered money is reintroduced into the economy as clean, legal funds.
The idea is to make it difficult to trace the money back to any illegal activity. This can include financial crimes and other offenses such as tax fraud, theft, tax evasion, bribes, embezzlement, extortion, drug trafficking, and weapons trafficking.
Florida Money Laundering Act
Under Florida Statute § 896.101, money laundering is defined as conducting or attempting to conduct financial transactions with the intent to promote unlawful activities, conceal the nature, source, or ownership of the proceeds from illegal activities, or avoid reporting requirements. The statute criminalizes these actions, with penalties varying based on the amount of money or property involved.
Common Methods of Money Laundering
Below are some of the common methods of money laundering:
- Structuring (Smurfing): This involves breaking up large sums of money into smaller deposits to avoid triggering reporting requirements. For example, instead of depositing $20,000 at once, the amount might be split into smaller deposits of under $10,000 each.
- Shell Companies: These are businesses that exist only on paper and conduct little or no actual business. They can be used to disguise the origins of illegal money by mixing it with legitimate funds from other operations.
- Trade-Based Laundering: This method involves manipulating invoices to transfer money across borders. For example, a company might overstate the value of goods it exports or imports in order to move money without raising suspicion.
- Real Estate Investment: Criminals may purchase real estate properties with illicit funds and then sell them later to “clean” the money. Real estate transactions can be complex, which can make it easier to obscure the money’s origin.
- Casino Laundering: Criminals might buy chips at a casino with dirty money, gamble lightly, and then cash out the remaining chips as “winnings.” This provides a seemingly legitimate source for the funds with no ties to any financial crimes.
- Cryptocurrency Laundering: Cryptocurrency transactions allow money to be moved anonymously across borders without the scrutiny that traditional financial institutions would face. This makes it easier to launder money through digital transactions rather than traditional financial transactions.
All of these methods are used to make illegally obtained money appear legitimate, making it difficult to trace the funds to any specified unlawful activity.
Is Money Laundering a Federal Crime?
Yes, money laundering can be considered a federal crime in the United States. Money laundering will be tried at the federal level when the crime involves involves interstate or international transactions, which are under federal jurisdiction.
For example, if someone launders money through a financial institution that operates across state lines, uses the U.S. mail to make a financial transaction, or moves illicit funds to or from a foreign country, it falls under federal law and the case would be tried in federal court. Fortunately, Andrew Buda is an experienced federal criminal defense lawyer and can help defend against both state and federal-level criminal charges.
Federal Money Laundering Laws
The federal laws surrounding money laundering are primarily governed by the Money Laundering Control Act of 1986, which made it a federal criminal offense to engage in financial transactions with the proceeds of certain financial crimes.
This was an expansion of the Bank Secrecy Act (BSA) which was established in 1970. The BSA requires financial institutions to keep records and file reports that are useful in identifying and preventing money laundering. This includes filing Suspicious Activity Reports (SARs) and Currency Transaction Reports (CTRs) for large cash transactions.
In 2001, the Patriot Act strengthened the BSA by increasing the reporting requirements, enhancing customer identification procedures, and providing law enforcement with broader tools to investigate and combat financial terrorism and money laundering.
Potential Punishments for Money Laundering Charges in Florida
In Florida, the punishments for money laundering are almost always severe, but they vary depending on the amount of money involved. Below are the punishments for money laundering in Florida based on the total amount of money laundered in a 12-month period:
- Between $300 and $20,000: Third-degree felony punishable by up to 5 years in prison, up to $5,000 in fines, or both.
- Between $20,000 and $100,000: Second-degree felony punishable by up to 15 years in prison, up to $10,000 in fines, or both.
- $100,000 or more: First-degree felony punishable by up to 30 years in prison, up to $10,000 in fines, or both.
What’s more, prescribed punishments may include a civil penalty equal to up to 5 times the amount of money laundered, depending on the number of prior offenses. Convicted individuals may also face additional penalties such as firearm restrictions, difficulty finding employment, and a permanent criminal record as a result of their felony status.
Florida Money Laundering Statute of Limitations
The Florida statute of limitations for money laundering depends on the severity of the offense. For second and third-degree felony money laundering cases, the statute of limitations is 3 years. For first-degree felony money laundering, the statute of limitations is 4 years. This means that prosecutors must file charges within 3-4 years from the date the crime was committed, depending on the severity of the crime.
How a Tampa Money Laundering Defense Attorney Can Help
One of the most important things you can do after being accused of money laundering is to hire an experienced Tampa criminal defense lawyer like those at Buda Law. Your attorney can thoroughly investigate the evidence, challenging the prosecution’s claims and identifying any procedural errors or violations of legal rights.
By analyzing financial records and transactions, your attorney will work to uncover inconsistencies or alternative explanations that could weaken the case against you They can also negotiate with prosecutors to reduce charges or seek plea deals if it’s in your best interest.
A skilled attorney will also advise their client on various legal strategies, prepare the client for court, and represent their interests throughout the legal process, aiming to achieve the most favorable outcome possible.
Potential Money Laundering Defense Strategies
Some common defense strategies against claims of money laundering include:
- Lack of Intent: Demonstrating that the defendant did not intend to launder money, which is crucial since money laundering requires intentional conduct to prove criminal responsibility in concealing illicit funds.
- Innocent Explanation: Providing a legitimate explanation for the financial transactions in question, showing that the funds were not derived from illegal activities.
- Mistake of Fact: Arguing that the defendant was unaware of the illegal origin of the funds, thereby lacking knowledge required for a money laundering charge.
- Entrapment: Claiming that the defendant was coerced or manipulated by law enforcement into committing the alleged money laundering offense.
- Insufficient Evidence: Challenging the prosecution’s evidence, arguing that it fails to meet the legal standard required to prove the defendant’s guilt beyond a reasonable doubt.
- Duress or Coercion: Asserting that the accused was forced to participate in money laundering under threats or pressure from others and thus did not voluntarily engage in the illegal activities.
These criminal defense strategies can cast reasonable doubt on the prosecution’s claims and the link between the alleged laundering and the alleged unlawful activity.
Why Choose Attorney Andrew Buda?
Choosing Attorney Andrew Buda for your Tampa money laundering defense means choosing an attorney with a unique advantage in the courtroom. As a former prosecutor, Attorney Buda possesses a deep understanding of both sides of the legal process, giving him valuable insights into how prosecutors build their cases.
Not only that, but his extensive experience as a criminal defense attorney sharpens his ability to identify weaknesses in the prosecution’s case and develop effective defense strategies. With his knowledge of Florida law and his reputation of commitment to his clients, you can trust that Attorney Andrew Buda will stand by you every step of the way in your money laundering case.
Call an Experienced Tampa Money Laundering Attorney at Buda Law Today
If you are facing charges related to money laundering in Tampa, it’s crucial to have an experienced attorney by your side who understands the law surrounding money laundering, as well as the nuances involved in these kinds of cases.
At Buda Law, Attorney Andrew Buda brings a wealth of knowledge and a unique perspective as both a former prosecutor and a dedicated criminal defense lawyer. His dual experience equips him to craft a robust defense strategy tailored to your specific situation, aiming to achieve the best possible outcome for you.
Don’t let money laundering charges jeopardize your future. Call our attorney’s office at (813) 322-2832 or contact us via our online contact form to schedule your free initial consultation today.
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