Money Laundering Defense Lawyer in Nashville, TN
Money laundering, at its most basic, is the process of taking the proceeds of illegal activity and engaging in financial transactions with those funds. There are two distinct federal statutes that criminalize money laundering.
Under 18 U.S.C. § 1956, money laundering occurs when someone uses proceeds from a specified unlawful activity—meaning funds tied to an identifiable crime—in a transaction, or attempted transaction, knowing the transaction is intended to conceal or disguise the nature, location, source, ownership, or control of those proceeds. Put more simply, § 1956 prohibits participating in a transaction when you know the money came from an illegal source and the purpose of the transaction is to make the funds appear legitimate. A classic example is putting illegal drug proceeds through the cash register of a car wash you own and reporting the money as car wash income, thereby “cleaning” the illegal funds.
Under 18 U.S.C. §1957, one engages in money laundering if they knowingly engage or attempt to engage in a monetary transaction of a value greater than $10,000 using the proceeds of a specified unlawful activity (meaning – a crime). In simplest terms, any expenditure of more than $10,000 derived from criminal profits constitutes money laundering. All the following examples would constitute money laundering in violation of §1957 if the source of the funds was illegal activity and the amount spent was over $10,000:
- Investing in a brokerage account
- Purchasing a vehicle
- Investing in a business
- Making a down payment on a home;
- Making over $10,000 in mortgage payments on a home originally purchased legally
- Gifting cash to a loved one or child
- Making tuition payments
- Buying furniture, appliances, etc.
- Depositing cash in a bank account
- Paying contractors or laborers in cash
Money laundering charges are often leveled in conjunction with other charges, such as charges involving drugs, racketeering, gambling, and white collar cases, including wire or mail fraud, healthcare, and tax fraud. Once a person is charged with money laundering, bank accounts, cars, and other assets can be frozen and/or seized, even if the alleged illegal income source was an accidental business error that is declared fraudulent. If tainted funds are “co-mingled” with other assets, like bank accounts, the entire bank account can be frozen even if the majority of the funds in the account have no connection to the money laundering charge.
If you face money laundering charges, including under 18 U.S.C. §§ 1956 or 1957, contact Kim Hodde and MSS-Nashville for experienced legal defense.
Representing Clients in Nashville, Tennessee, and Nationwide
Kim Hodde and her team at Meister Seelig & Schuster (MSS) have the experience and resources to address the full scope of a money laundering investigation, including related allegations involving fraud, conspiracy, asset forfeiture or other federal offenses. Together, Kim Hodde and her team at MSS provide strategic, high-level representation to individuals, businesses and organizations whose financial interests, professional standing and future may be significantly impacted by a federal prosecution.
If you have questions regarding federal money laundering charges, contact Kim Hodde and Meister Seelig & Schuster Nashville office. Kimberly S. Hodde can be available for evening and weekend appointments. Ms. Hodde is mindful that you may not have budgeted for funding your defense; so, under some circumstances, she will work with defendants and/or their families on a reasonable payment plan. The firm is conveniently located in a freestanding building on Music Row, just one mile from the federal courthouse with abundant free parking. Contact us at 615-242-4200.