How is money laundering prosecuted?

Money laundering is the process of concealing the origins of illegally obtained money. In California, money laundering is prosecuted as a felony offense that carries serious punishments. Money laundering is typically prosecuted under California Penal Code section 186.10. To convict an individual of money laundering in California, the prosecutor must show that the person committed a specific criminal act, such as receiving stolen property or selling stolen goods. The prosecutor must also show that the person knew that the money was obtained illegally and intended to conceal the source of the money. In some cases, money laundering is charged as a federal crime. This may occur if the laundering involved transactions across state lines or occurred on a large scale. In such cases, the individual could face federal charges and a significant prison sentence. The punishments for money laundering in California depend on the amount of money that was laundered, the specific offense that was committed and the criminal history of the individual. Convictions of money laundering can result in prison sentences of up to 12 years and fines that can reach up to $250,000.

Related FAQs

What are the penalties for bank fraud?
What is securities fraud?
How is restitution used in white collar crime cases?
What is bank fraud?
How is securities fraud committed?
Can white collar crime be prosecuted in state courts?
How is money laundering prosecution used to fight white collar crime?
How does the statute of limitations apply to white collar crimes?
How does cybercrime cross state lines?
What is the difference between a crime and a tort?

How is money laundering prosecuted?

Related FAQs

Related Blog Posts