After all, you do not want to face any part of this process without experienced legal support on your side. Whether you have only been contacted by law enforcement so far or you are currently facing money laundering charges, proactively defend your future by seeking guidance from the New Jersey criminal defense attorneys at Dughi, Hewit & Domalewski.
What is Money Laundering?
Money laundering involves allegations of concealing the origin of funds, claiming they were obtained illegally to give them the appearance of “clean money” (that is, legitimate, legally obtained funds).
The allegation is that money launderers use a series of transactions designed to obscure the source of their money so that they enjoy the proceeds of illicit activities without drawing suspicion. Through money laundering, they integrate the funds into the legitimate economy, making it difficult for authorities to trace and seize the funds.
While money laundering is often associated with organized crime, drug trafficking, and other illegal activities, anyone can be charged with money laundering if they are found to have engaged in the process of concealing the source of illegally obtained funds.
How Money Laundering Works
Money laundering typically involves allegations of a three-step cycle that distances the money from the criminal activity at its origin:
- Placement: The “dirty” funds are first introduced into the financial system, whether by smuggling cash into another country, gambling, repaying debts, or blending funds with a real business that uses large amounts of cash transactions. This process often involves the creation of shell companies, which serve as facades that legitimize the illicit funds (e.g, through the use of fake invoices) and further obscure their origin.
- Layering: Also known as “structuring,” this stage involves the layering of numerous financial transactions, often along with dividing the funds into smaller chunks to make them less noticeable.
- Integration: At this point, the person whose money it is receives the funds back, as they have now been integrated into the legitimate economy.
Classification of Money Laundering as a Crime in New Jersey
In the state of New Jersey, money laundering is considered a serious crime and is classified under various degrees of severity based on the amount of money involved.
- For sums up to $75,000, it’s a third-degree offense and carries up to 5 years in prison and a fine of up to $15,000.
- If the laundered amount exceeds $75,000, the crime escalates to a second-degree offense and carries a sentence of up to 10 years and a fine of up to $150,000.
In addition to these penalties, any property involved in the money laundering operation can be seized by the state. It is also worth noting that these penalties can be compounded if the money laundering is connected to other criminal activities, such as drug trafficking or organized crime.
Money laundering is also a federal crime that can expose you to significant imprisonment and financial penalties.
What to Do if You're Facing Money Laundering Charges in New Jersey?
If you have been charged with money laundering in New Jersey, it is important to seek legal representation immediately. This crime carries serious consequences and you will need an experienced attorney to defend your rights and potentially lessen the severity of the charges.
It is crucial to cooperate with your attorney during this time. Being honest and forthcoming about any activities associated with your charges will help your attorney determine the right legal strategy for your case. What’s more, withholding information can negatively impact your defense.
How Can An Attorney Help You Defend Yourself Against Money Laundering Charges?
An attorney can help you understand and navigate the legal process in New Jersey. They can gather evidence, interview witnesses, and negotiate with prosecutors to attempt to get charges reduced or dismissed.
While the defense and outcome of any case depend on the specific facts of the situation, several avenues for defense may be available to you. Your attorney may be able to challenge the evidence presented or the investigation process. They could also argue that the money laundering operation was not connected to any other criminal activity, which could lessen the severity of the charges.
Consult with an Attorney
Our dedicated New Jersey legal team at Dughi, Hewit & Domalewski will deploy every legal strategy available to protect you from potential money laundering charges as effectively as possible.
Integrating the responsiveness and client-focused ethos of a boutique legal firm with the substantial resources and influence associated with large firm practice, our team seeks to support you with the legal acumen and experience needed to help you make the best possible decisions regarding your case.
Our ultimate goal is to help you return to normalcy and resume your life with as few delays as possible, despite your current legal circumstances. If you are ready to do so, schedule a consultation with our team today, and we will begin constructing a robust defense for your money laundering case.
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