Money Laundering
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Poughkeepsie Money Laundering Lawyer

Defending Those Who Have Been Charged With Money Laundering in New York

Money laundering is a serious crime in New York and can result in severe penalties if you are convicted. At McCabe, Coleman, Ventosa & Patterson PLLC, our money laundering attorneys in Poughkeepsie are committed to protecting your rights and ensuring you acquire a fair and just legal process.

Call McCabe, Coleman, Ventosa & Patterson PLLC today at (845) 209-1355 or contact us online to schedule a consultation with our Poughkeepsie money laundering attorney.

What is Money Laundering?

Money laundering is considered a serious financial crime with severe consequences under both state and federal law. In essence, money laundering is concealing the origins of illegally acquired money, generally by transferring it through a complex sequence of banking transfers or commercial transactions. The primary objective of money laundering is to make unlawfully obtained funds appear legitimate. This is achieved by layering the money through various transactions, making it difficult to trace its origin.

Money laundering can take various forms, such as:

  • Structuring Transactions: Also known as "smurfing," this involves breaking down large amounts of money into smaller, less suspicious transactions to avoid detection.
  • Real Estate Transactions: Purchasing high-value assets, such as real estate, with illegally obtained money to legitimize the funds.
  • Shell Companies: Creating fictitious companies to move money around and obscure its origins.
  • Cryptocurrency Transactions: The use of digital currencies to launder money due to their anonymity and decentralization.
  • Casino Transactions: Placing illicit funds into casinos, converting them into chips, and then cashing them out to make the money appear clean.

What Are the Penalties for Money Laundering in New York?

The penalties for money laundering in New York are severe and can vary depending on the amount of money involved and the specifics of the case. In general, money laundering offenses are categorized into degrees, with varying levels of penalties:

  • Money Laundering in the First Degree: This is the most serious charge and is often applied in cases involving large sums of money or ongoing criminal enterprises. Conviction can lead to up to 25 years in prison and substantial fines.
  • Money Laundering in the Second Degree: This charge is applicable to cases involving significant amounts of money and carries penalties of up to 15 years in prison.
  • Money Laundering in the Third Degree: A less severe charge, but still a felony, this can result in up to 7 years of imprisonment.
  • Money Laundering in the Fourth Degree: This is a class E felony and can lead to up to 4 years in prison.

Defenses Against Money Laundering Charges

Some common defenses against money laundering charges may include:

  • Lack of Intent: Money laundering charges require intent. If we can establish that the financial transactions in question were not conducted with the intent to conceal the origins of illicit funds, it can be a strong defense.
  • Legitimate Business Transactions: Demonstrating that the financial transactions were part of a legitimate business operation and not intended for illegal purposes can be a valid defense.
  • Procedural Errors: In some cases, law enforcement may make mistakes during their investigation, which can be used to challenge the evidence presented in court.
  • Insufficient Evidence: Challenging the prosecution's ability to prove money laundering beyond a reasonable doubt is a key defense strategy.

Contact Our Poughkeepsie Money Laundering Attorney Today

Our Poughkeepsie money laundering lawyers are committed to providing you with the strong defense you deserve. We understand the complexities of these cases and will work tirelessly to protect your rights. Your future is at stake, and McCabe, Coleman, Ventosa & Patterson PLLC is here to stand by your side every step of the way.

Contact McCabe, Coleman, Ventosa & Patterson PLLC today to get started with our Poughkeepsie money laundering lawyer.

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