The crime of money laundering is a serious offense, in Texas as in elsewhere. At its simplest, money laundering is a process by which criminals make money which was obtained illegally appear as though it was procured in a legitimate manner. No one wants to be caught holding onto “dirty” money, that is, money which was used in the commission of a crime or which was obtained through criminal means. While the idea of money laundering is simple, the ways in which the crime of money laundering is carried out can be rather complex.
Sometimes, money laundering schemes are conducted exclusively on American soil. In other situations, individuals and organizations use international banking as part of their plan to conceal the true origin of their funds. Money laundering begins when the cash that has been obtained illegally, through drug trafficking, theft, or some other corrupt means, is deposited into a bank. After the initial deposit, which is often referred to as placement, the money passes through a series of other transactions like bank transfers, wire transfers, and big-ticket purchases, which are collectively called the layering process, in order to make it difficult to trace where the money originally came from. After the money has gone through the layering process, it is then integrated into the mainstream economy through transactions such as the sale of any big-ticket items that were purchased during layering or “investments” in local businesses.
Money laundering is a serious offense, and if you are convicted you could face steep fines and jail time in addition to long-term consequences like difficulties in securing employment and housing that can result from having a conviction on your record. The crime of money laundering is described in § 34.02 of the Texas Statutes as knowingly acquiring, concealing, transporting, concealing, transferring, or maintaining an interest in any proceeds that were derived from criminal activity. It is important to understand that under Texas law, a person does not have to be aware of the type of criminal activity that produced the funds in question in order to be found guilty of money laundering. A person can also commit the offense of money laundering by facilitating, conducting, or supervising a transaction involving proceeds from criminal activity, or by spending, investing, or receiving such proceeds. Money laundering also prohibits individuals from investing or financing future crimes by making it illegal to invest or finance money which is intended to be used in the commission of a future crime.
Fortunately, there are defenses which may be available in certain situations where money laundering has been alleged. An experienced Texas Criminal Defense Attorney can assess your case and build a strong defense on your behalf based upon the unique circumstances of your situation. A skilled defense attorney can help you to increase your chances of having the best possible outcome in your case, whether by getting the charges dismissed or by mitigating some of the short or long term consequences that are associated with those charges. Attorney Alex Tyra knows how to present his clients’ cases to the court in a convincing way. To learn more, call (903) 753-7499 to set up an initial consultation or use the online contact form that is available on our website.
