How is money laundering prosecuted?

Money laundering is a form of fraud in which criminals conceal the natural source of criminally obtained proceeds. In Texas, money laundering is prosecuted under Tex. Penal Code § 34.02. This law states that it is illegal to knowingly acquire or possess proceeds that represent the proceeds of criminal activity, and to conceal or disguise the nature, location, source, ownership, or control of the proceeds. When prosecuting a money laundering offense, the prosecutor must first prove that the defendant acted knowingly. In addition, the prosecutor must prove that the defendant was involved in one of the following: (1) acquiring or possessing the proceeds of criminal activity; (2) conducting, supervising, or facilitating a transaction involving proceeds of criminal activity; or (3) concealing or disguising the nature, location, source, ownership, or control of proceeds of criminal activity. If convicted, the punishment for money laundering in Texas varies depending on the amount of money involved and the nature of the offense. For first-degree money laundering, for example, a defendant can face a sentence of five to 99 years in prison and a fine of up to $10,000. It is important to note that money laundering is prosecuted as a felony offense in Texas, and those convicted typically face significant consequences. Therefore, those who are under investigation for money laundering should seek legal advice as soon as possible.

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