Money laundering refers to financial transactions aimed at concealing
the identity, source, or destination of the profits of, or money used to
fund, criminal activities.
Money laundering is typically carried out in three stages. First, the launderer obtains money via illegal activities. Next, the launderer engages in a series of transactions designed to obscure the illegal source of this money. Finally, the money is returned to the launderer in a “clean” form. Common vehicles used to launder money include tax evasion schemes, shell/holding companies, and offshore bank accounts.
The Bank Secrecy Act is aimed at preventing and detecting money laundering. Pursuant to this Act, banks and other financial institutions are required to report “suspicious transactions,” including transactions of more than $10,000.00 in cash. These reports are centralized in a database, which is monitored by the federal government. Financial institutions are also required to “know their customers” by obtaining proper identification and other information when an account is opened. These reporting requirements were increased in 2001 with the passing of the Patriot Act.
Money laundering is a serious criminal offense, carrying fines of up to $500,000.00 or twice the value of the property involved and up to 20 years’ imprisonment. The federal government may also impose civil fines against money launderers and has jurisdiction over foreign citizens and entities that violate U.S. money laundering laws in certain circumstances.
If you are being investigated for money laundering, have already been
criminally charged with money laundering, or fear that you may be in the
future, it is essential that you retain a qualified attorney with the background and
track record of defending clients against these types of charges.
We are experienced attorneys representing the interests of our clients in ensuring
that their rights are protected as well as assisting in avoiding or minimizing
crimimal liability and achieving solutions that will protect our clients' assets
and their freedom.
I have chosen to focus my law practice on Federal Criminal Tax and
White Collar Defense and have handled a number of criminal money laundering
matters with success over the past 30 years. In addition to having argued
before the United States Supreme Court in Washington, I have argued before
federal courts throughout the country. I was also honored as a Special Student
in International Legal Studies at Harvard Law School and earned a
Masters of Law in Taxation from New York University School of Law.
I fight hard to enforce the rights of my clients,
and I believe in the integrity of that fight.
If you have questions or concerns about money laundering, I invite you to contact
me directly to discuss them at (212) 639-1600 or
Mullin@TaxDefense.com.
You will discuss your concerns with me personally – never an associate
or paralegal. In addition, you should know that your contact with me,
and with my firm, is privileged under the law, regardless of whether or
not you decide to retain us to represent you.
