Have you been arrested or charged in connection with money laundering in Texas? If so, it’s imperative to take these charges seriously as they carry hefty penalties. Unfortunately, many assume because this is considered a “victimless” crime, that the consequences they can expect will be less severe, which is far from the truth. The following blog explores the elements of this crime in further detail, including the penalties associated with this offense. You’ll also learn how a Houston white-collar crimes defense attorney can examine the details of your case to help you fight for your freedom.
What Is Money Laundering?
Money laundering occurs when someone disguises the source of money to cover up criminal activity. The term “money laundering” originates from the idea that money originating from illegal activity is “dirty” and must be “laundered” to appear legitimate and clean from ties to criminal activity. In many instances, criminal organizations will create fronts or businesses solely for the purpose of money laundering. This crime is most often associated with drug trafficking, human trafficking, illegal gambling, and terrorism.
Under Texas law, anyone who acquires, maintains an interest in, conceals, transports, possesses, or transfers illegally obtained money can face money laundering charges.
What Penalties Can I Face?
If you are convicted of money laundering, it’s imperative to understand that you will face a felony offense. However, the severity of the felony will depend on the amount of money impacted. As such, the penalties are as follows:
- Between $2,500 and $30,000: State jail felony carrying 180 days to two years in prison
- Between $30,000 and $150,000: Third-degree felony carrying two to ten years in prison
- Between $150,000 and $300,000: Second-degree felony carrying two to twenty years in prison
- More than $300,000: First-degree felony carrying five to ninety-nine years in prison.
It should be noted that each felony classification also carries a $10,000 fine. Additionally, this is a federal offense, so you face additional charges. The federal government will work with local authorities to prosecute you.
You should also note that if you are charged with money laundering, you will likely also be charged for the crime that generated the laundering of money. For example, if you launder money due to your involvement in drug trafficking, you can expect to face additional charges.
Are There Any Potential Defenses I Can Utilize?
If you are charged with money laundering in Texas, it’s imperative to understand that you should immediately contact an experienced criminal defense attorney. These are incredibly serious charges, so ensuring you have competent legal representation on your side to help defend you against these accusations is critical.
Your attorney will examine your circumstances to determine if there are any defenses that work for your case. One of the most common defenses for these matters is that the money was obtained through illegal means. If you can show how the money was generated and where it came from, you may be able to avoid charges.
Another defense that may apply to your situation is that you were a victim of entrapment. It is illegal for the police to coerce you into committing a crime, and if they do so, it can aid your defense.
Facing a felony offense can be incredibly overwhelming, even if it is considered a “victimless” crime. Regardless, the penalties that you can face are severe, highlighting the importance of working with an experienced attorney from the Gonzalez Law Group. Our firm understands how difficult these matters can be to navigate, which is why we will do everything in our power to help you fight for the best possible outcome. When you’re in legal trouble, contact our team to learn how we can help.
