What is Money Laundering in New Jersey?
In New Jersey, money laundering is a crime of falsifying the origins of illegal funds so that they appear legitimate. The term “laundering” is used to describe the process of making “dirty” money clean so as not to arouse suspicion when the money is spent. Being accused of money laundering in New Jersey is serious and can carry very heavy penalties if convicted, including a fine of $500,000 or two times the value of the property involved in the transaction. Additionally, a sentence of up to 20 years in prison may also be imposed.
Since the 9/11 terrorist attacks in 2001, the prevention of money laundering has become a top priority for the government of the United States. Statutes such as the Bank Secrecy Act, the Money Laundering Control Act, and the Patriot Act have all been imposed and play a part in determining whether or not a person is guilty of money laundering. The laws that surround this type of crime are made even more complicated by the three Acts, and can be very difficult to understand. Therefore it is absolutely vital that legal counsel from an experienced attorney is acquired as soon as possible as soon as a person is accused of money laundering in New Jersey.
Someone who is accused of money laundering may have to face an even broader range of penalties. If a business of an individual is charged with the crime, oftentimes clients, investors, and anyone who had a connection with the accused will be investigated. Charges such as tax evasion, drug trafficking, organized crime, and other more can be filed in addition to money laundering.
When someone is wrongly accused of money laundering, the individual as well as their business may suffer irreparably as a result of the charge. People will no longer trust that person and may stop supporting the once successful business. If you have been accused of money laundering in New Jersey, it would be in your best interest to contact the dedicated Princeton money laundering defense attorneys at Lependorf & Silverstein. We have handled a plethora of successful criminal defense cases and may be able to get your charges reduced or dismissed completely. To understand your rights and legal options, contact us today at 1-609-240-0040.
