Austin Criminal Defense Lawyers of Austin

Money Laundering

Money laundering is considered an illegal act in the United States, and anyone caught in this criminal activity is liable to be charged with a crime. It is also a highly risky crime to commit because money laundering must be carried out quite carefully in order for the perpetrator to be successful.

What is Money Laundering?

Money laundering is, in its most basic definition, disguising the source of illegal money as a legit operation. Often times, money laundering is used when an individual is carrying out other illegal acts that generate an immense amount of revenue, such as the sale of illegal drugs or running a prostitution ring. For example, money obtained through the illegal trafficking of drugs can be disguised by a fake business front, such as a restaurant or store.

Common Reasons for Money Laundering

There are many reasons why a person or group of individuals may opt to launder money. Typically, this path is selected, as previously mentioned, when large amounts of money are brought in through illegal acts. Commonly, these acts include the following:

  • Illegal drug trafficking
  • Operation of prostitution rings
  • Embezzlement
  • Insider trading
  • Bribery
  • Fraud Schemes
  • Blackmail

In 1996, US statistics show that somewhere between $590 billion and $1.5 trillion were laundered. This amounts to an astounding quantity of money, close to the entire production of a country with a smaller economy, such as Spain.

Contact Us

If you have been accused of laundering money, Austin criminal defense lawyer Ian Inglis can help you. Please contact his law office at 1-800-589-1808 to set up an appointment today.

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