Monday, October 5, 2015

Being Charged with a Money Laundering Felony in Ft. Lauderdale, Florida

Being charged with money laundering is a serious offense in Ft. Lauderdale, and without proper legal representation, the consequences could be severe. This type of felony is complex, which is why you need to consult with a criminal attorney that specializes in this area of the law.

What is Money Laundering?

If you are charged with money laundering, you have been accused of taking collective steps in order to obtain financial gain through various criminal acts. You have been accused of using these acts to transfer the financial gain into legitimate finances, including cash or other assets. The various types of criminal acts surrounding finances include credit and debit cards, security, and digital currencies, in addition to traditional cash.

Transaction Value

Before you are charged with a felony, some factors need to be considered, such as the transaction value. Money laundering will be prosecuted under Florida law as follows:

• First degree felony – Transaction must exceed the amount of $100,000 within a twelve-month period.

• Second degree felony – Transaction values that fall between the amounts of $20,000 and $100,000 within a twelve-month time period.

• Third degree felony – Transaction values must total between the amounts of $300 and $20,000 within a twelve-month period.

After the felony level has been determined, defendants in Ft. Lauderdale will face a maximum sentence or fine amount. This will vary from felony-to-felony.

Prison Convictions and Imposed Fines

Being convicted of money laundering in Ft. Lauderdale, Florida, could lead to serious consequences, such as prison time and a hefty fine. The range of prison time and fines will depend on the type of felony that a defendant is convicted of. For example, being convicted of a third degree money laundering felony could impose a prison sentence for up to five years; however, a second degree felony increases that term to fifteen years, and a first degree felony for money laundering could increase a sentence to a maximum term of 30 years in prison.

If convicted of money laundering, a fine could also be imposed. The amount of the fine will vary from case-to-case. According to Florida law, a fine of $250,000 could be imposed, or double the amount of the financial transaction; you will have to pay the amount that is larger between the two. If you have a prior conviction for money laundering, your fine could increase to five times the amount of the financial transaction, or $500,000 – the greater amount between the two.

Due to the complexity of money laundering cases, you will need to hire a criminal lawyer that is experienced in both state and federal areas of the law. There is a level of scrutiny that a FT. Lauderdale criminal attorney needs to have pertaining to money laundering cases. Richard F. Della Fera is an experienced and knowledgeable attorney in this area of the law, and he will see your case through to the very end.

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