Minneapolis Criminal Lawyer: Money Laundering
Money laundering is among some of the most economically damaging crimes in America. In the past, the term "money laundering" was only applied to financial transactions related to organized crime. Today the definition has been expanded.
Money laundering is the act of making illegal money appear as if it were made legally. During this process, illegally acquired money is sent through a legitimate business or bank account in order to camouflage its illegal origins.
In another form of money laundering, an individual may legally have, but illegally hide, a large sum of cash for a particular reason. This is sometimes an effort to keep it from being taxed. Other times it is an attempt to keep it hidden from others who think they may have a claim on it, like an ex-spouse or a creditor.
Punishment for money laundering is severe. People who are convicted of money laundering will spend up to 20 years or more in prison. Additionally, people convicted of money laundering will have to pay fines and will most likely be sued by any other individuals involved in the case who may have been damaged financially.
Money laundering charges can lead to serious consequences if not dealt with correctly. Retaining a Mineapolis criminal lawyer can prevent a conviction and otherwise protect your rights. With your future at stake, contact the knowledgeable Paul Edlund, Minneapolis criminal lawyer, as soon as possible. Serving Minneapolis, St. Paul, the Greater Twin Cities Metro and beyond, Mr. Edlund is a reputable criminal defense attorney with an exceptional rate of success. The earlier a lawyer is involved with your case, the better your attorney will be able to defend you: Contact Paul Edlund today for a consultation!
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