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New York Penal Law § 470.05: Money laundering in the fourth degree

New York Penal Law § 470.05: Money laundering in the fourth degree

If you were arrested for money laundering in the fourth degree, you committed a class E felony and you can expect to be sentenced to up to four years in prison. Money laundering is an organized crime with racketeering. Money laundering is an illegal business which derives income from the investment of profit gained from illegal financial transactions. Money launderers appear to earn legitimate income with no observable source of income. If you were arrested for money laundering in the fourth degree, you concealed your financial transactions, did not reveal your business partners, and reinvested your profit in your on ongoing criminal behavior. You never reported your tax-free income to the Internal Revenue Service.

18 U.S. Code Chapter 96 – Racketeer

The Racketeer Influenced and Corrupt Organizations Act (RICO) is a federal law used to combat organized crime in the United States. The Rico Act defines racketeering activities as:

• Threatening to kill
• False imprisonment
• Kidnapping
• Gambling
• Arson
• Robbery
• Bribery
• Extortion
• Selling pornography
• Selling illegal drugs

Financial Transactions

The Financial Industry Regulatory Authority safe guards investors and market integrity by enforcing laws and rules that apply to all registered brokerages and licensed brokers in the U.S. The FBI investigates corporations that falsify financial records to inflate sales while deceiving consumers and investors. Financial transactions governed by New York Penal Law 470 money laundering include bank deposits, wire transfers, exchange of currency, payments, title loans, lines of credit, and currency exchanges. Financial transactions at banks, through a broker, in credit unions, at loan companies, or through travel agencies may also be used as evidence of money laundering.

Conspiracy

If you were arrested for money laundering in the fourth degree, you committed the crime in conspiracy with others. You are probably one of several defendants, and you played a minor role in the crime. Are you a broker who signs sales contracts without knowing all the details of each sale? Potentially every member of the money laundering conspiracy will testify about your illegal sales. The degree of the money laundering charge varies by the total value of your personal financial transactions and the depth of your involvement in the money laundering scheme.

Criminal Defense Attorney

Good people make mistakes. Your defense attorney knows the potential impact of your criminal behavior. The mistake you made impacts your job and your chances of getting another job. Your mistake may even bar you from attending the local community college. Did you lose your right to vote? Feel like you have more pressing problems at the moment? Who was impacted by the crime you committed? Did you lose your family or your parental rights? Our criminal defense attorney may be able to preserve your rights with the least possible impact on your family.

Defenses for Money Laundering in the 4th Degree

Defenses for money laundering in the fourth degree include a lack of criminal intent. If you did not know that you were part of a criminal enterprise, you may not be guilty. You may have no idea what was inside the packages you delivered, but you realized you were overpaid for the task. If you transacted your business in broad daylight with no reason to conduct your business covertly, you probably didn’t know you were money laundering. A police officer or a corrections officer engaging in criminal conduct coerced you to do what he or she wanted is another possible defense. You attorney may be able to negotiate a plea bargain which is in your best interest.

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