14 year prison sentence and 1.8 million fine in FL money laundering case

White collar crimes, like money laundering, come with harsh consequences.

A man from Florida is facing a harsh sentence after pleading guilty to money laundering charges. The man received a sentence of 14 years imprisonment, a monetary penalty of 1.8 million dollars and will face a deportation proceeding upon release connected to an ongoing case. A local ABC affiliate reports that federal agents allege the man was guilty of taking part in a crime to transfer money connected to illegal activities in a conspiracy that spanned from 2008 to 2012.

The case provides an example of the harsh penalties that can come with a conviction for money laundering in Florida.

More on money laundering

Money laundering is one type of white collar crime. White collar crimes are generally nonviolent and involve the use of deceit for financial gain. Examples include fraud, embezzlement, tax evasion and failure to report offshore accounts.

Those who are accused of money laundering are essentially accused of attempting to convert "dirty" money, allegedly connected to completion of a felony such as embezzlement or drug crimes, into "clean" money - money that cannot be connected to the original, illegal source. The Internal Revenue Service (IRS) notes that money laundering is generally committed by disguising the source. This can be completed by depositing the money into a financial institution and then carrying out a series of transactions to separate the money from its original origin.

Florida law and money laundering

Those who are charged with money laundering can face federal charges for tax evasion and other crimes as well as state charges. Florida state law makes it unlawful for a person to attempt to conduct a financial transaction when he or she knows that the transaction is designed in whole or in part to conceal or disguise the nature, source or ownership of the proceeds. Those who violate this law face harsh consequences, including:

  • Over $300. Transactions that range from $300 to $20,000 face third degree felony charges.
  • Over $20,000. Transactions from $20,000 to $100,000 face second degree felony charges.
  • Over $100,000. Transactions over $100,000 face first degree felony charges.

In addition to these harsh criminal penalties, those who are convicted of a money laundering crime can also face social stigma and immigrants can face deportation. It is also important to note that those who are facing charges for money laundering will likely also face additional criminal charges. As a result, anyone charged with a money laundering or other white collar crime is wise to seek the counsel of an experienced Tampa white collar crime or money laundering lawyer. This legal professional will review the details of your case and work to better ensure a more favorable outcome.

Keywords: white collar crimes criminal defense money laundering