Many people and groups that bring in money from criminal activity, such as prostitution or drug dealing, look for ways to hide the fact that their money came from illegal sources. They may take certain steps to try to convert the money so that it appears to have come from a legitimate and legal source. This is known as money laundering, and it is illegal.
There are different degrees and types of money laundering charges. The charges that you will face depend on a few different factors, including the amount of money that was laundered and where the money came from. One charge that you could face is money laundering in the third degree.
How Can You Be Charged with Money Laundering in the Third Degree?
In New York State, certain criteria must be met in order for the authorities to charge someone with money laundering in the third degree. If you knowingly conduct one or more financial transactions with the intent of hiding the fact that money was acquired through illegal activity, then you could face these charges.
What is an Example of Money Laundering in the Third Degree?
There are a few examples of money laundering in the third degree. If you run an illegal gambling operation but also run a restaurant and use your restaurant to convert the money from your gambling operation into so-called legal and legitimate funds, then it could be an example of money laundering. For example, someone in this situation might falsify records about profits from their restaurant to cover up the fact that their money came from a gambling operation.
What are Some Examples of Defense for Money Laundering in the Third Degree?
If you are facing charges for money laundering, then you could be hoping that an attorney can defend you. You could also be wondering what types of defenses can be used for someone who has been accused of money laundering in the third degree.
For example, your lawyer could argue that you did not know that the money came from illegal activity. Since you have to knowingly convert money in order to be found guilty of money laundering, this defense could help you avoid a conviction.
What Consequences Could You Face if Found Guilty of Money Laundering in the Third Degree?
You are probably concerned about what could happen to you if you are found guilty of money laundering in the third degree. First of all, you should be aware that this is a class D felony. If you are found guilty of a class D felonylike money laundering in the third degree, you could face up to seven years in a New York state prison and up to five years of probation after your release from prison. In addition to the potential loss of your freedom, you may also be required to pay as much as twice the amount of the money that was laundered in fines to the state.
What Should You Do if You’re Facing Money Laundering Charges?
If you have been accused of money laundering in the third degree or any other type of money laundering charges, it is important to take the situation very seriously. Since you are facing a potential felony and the possibility of serving up to seven years in prison, it is important to seek legal representation.
An attorney can talk to you more about money laundering charges and whether or not they apply to your case. Your lawyer can also talk to you about your specific situation and can begin working on a defense strategy to help you in court. Don’t take the chance of trying to handle your charges on your own. Instead, contact an experienced attorney who has helped others with serious charges like money laundering in the past so that you can get the best legal representation possible.