Money laundering is a serious white collar crime in Massachusetts, carrying severe penalties that can significantly impact your life. If you’re under investigation or have been charged with money laundering, you need an experienced cyber crime defense attorney to protect your rights and advocate on your behalf. At Riccio Law, our skilled legal team is dedicated to providing aggressive representation to help you achieve the best possible outcome.
Don’t face these charges alone. Contact us today for a free consultation.
Understanding Money Laundering Charges in Massachusetts
Massachusetts Money Laundering Laws
Under Massachusetts General Law, Part IV, Title I, Chapter 271A, money laundering is defined as:
- Possessing funds obtained from illegal activity (a crime punishable by state prison or a felony in other states) with the intent to further that illegal activity.
- Engaging in financial transactions involving funds from illegal activity, knowingly aiming to conceal the source of the funds or to avoid detection by authorities.
Funds involved can include:
- Currency (U.S. or foreign)
- Checks
- Credit cards
- Stocks
- Casino chips
- Precious gems
Financial institutions implicated may include:
- Banks and credit unions
- Pawn brokers
- Car dealerships
- Betting shops
Transactions cover a wide range:
- Deposits or withdrawals
- Gifts
- Sales or purchases of merchandise, stocks, or bonds
- Use of safe deposit boxes
Penalties for Money Laundering in Massachusetts
Being convicted of money laundering can result in:
- First Offense:
- Up to 6 years in state prison
- Fine of the greater of $250,000 or twice the value of the money laundered
- Subsequent Offenses:
- Minimum of 2 years and up to 8 years in state prison
- Fine of the greater of $500,000 or three times the amount of the money laundered
These penalties underscore the seriousness of money laundering charges. Our experienced attorneys can help you navigate these complex laws.
Federal Money Laundering Charges
Overview of Federal Laws
At the federal level, money laundering is prosecuted under 18 U.S.C. § 1956. It is illegal to:
- Promote ongoing unlawful activities
- Conceal or disguise the nature, location, source, ownership, or control of proceeds from unlawful activities
- Avoid reporting requirements set by state or federal law
Penalties for Federal Money Laundering
Federal convictions can lead to:
- Up to 20 years in federal prison
- Fine of $500,000 or twice the amount involved in the transaction, whichever is greater
Federal charges often come with complex investigations and stringent prosecution. Our firm has the expertise to defend you in federal court.
Common Money Laundering Schemes
Money laundering schemes are often sophisticated and can include:
- Real Estate Transactions: Purchasing property with illegal funds and selling it to make the money appear legitimate.
- Cash Businesses: Infusing illicit funds into businesses that handle large amounts of cash, like restaurants or nightclubs.
- Casino Gambling: Using dirty money to purchase chips, gambling minimally, and cashing out to obtain clean money.
- Falsified Documents: Creating fake invoices or business records to disguise illegal funds as legitimate income.
- Bank Transfers: Moving funds through various financial institutions, sometimes using shell companies or offshore accounts.
Real-Life Case Example: Operation Good Fortune
In a notable Massachusetts case, defendants were indicted for laundering drug trafficking proceeds through businesses in Boston and Hanover, including:
- Using a restaurant to funnel money via electronic transfers
- Purchasing Apple products with stolen or falsified gift cards to sell overseas
- Exchanging dirty money for foreign currency sold at discounted rates
- Authorities seized over $250,000 hidden in a vehicle under boxes of frozen meat
Understanding these schemes is crucial for mounting an effective defense. Let our knowledgeable attorneys guide you through your case.
How Riccio Law Can Help You
When you’re facing money laundering charges, the stakes are high. At Riccio Law, we offer:
- Experienced Defense: Our legal team has a deep understanding of both state and federal money laundering laws.
- Personalized Strategy: We tailor our defense approach to the unique facts of your case.
- Aggressive Representation: We challenge the prosecution’s evidence and work tirelessly to defend your rights.
Your future is too important to leave to chance. Contact us for a free consultation.
Defenses Against Money Laundering Charges
A strong defense can make all the difference. Possible defenses include:
- Lack of Intent: Demonstrating that you did not knowingly engage in money laundering activities.
- Duress: Proving you were coerced into participating under threat of harm.
- Insufficient Evidence: Arguing that the prosecution lacks sufficient evidence to prove their case beyond a reasonable doubt.
- Entrapment: Showing that law enforcement induced you to commit a crime you wouldn’t have otherwise committed.
Our attorneys will:
- Thoroughly investigate the charges against you
- Identify weaknesses in the prosecution’s case
- Advocate fiercely on your behalf in court
We’re committed to securing the best possible outcome for you.
Why Choose Riccio Law
Selecting the right attorney can greatly influence the outcome of your case. Here’s why Riccio Law is the right choice:
- Proven Success: A track record of favorable results in complex criminal cases.
- Client-Focused Approach: We prioritize your needs and keep you informed every step of the way.
- Expert Knowledge: Deep understanding of Massachusetts and federal money laundering laws.
“At Riccio Law, your defense is our mission.”
Frequently Asked Questions
What is considered money laundering?
Money laundering involves processing criminal proceeds to disguise their illegal origin, making the funds appear legitimate.
Can money laundering charges be both state and federal offenses?
Yes, money laundering can be prosecuted under both state and federal laws, depending on the circumstances of the case.
What should I do if I’m under investigation for money laundering?
- Do not speak to law enforcement without an attorney present.
- Contact an experienced criminal defense lawyer immediately.
How can Riccio Law help me?
We provide:
- Expert legal advice
- Aggressive defense strategies
- Dedicated representation throughout your case
Have more questions? Contact us for answers specific to your situation.
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