The act of disguising illegally earned funds and making them appear legitimate is known as money laundering. Although a non-violent offense, laundered funds promote further illegal activity, which is why the federal government is cracking down on the issue. Money laundering is often charged in conjunction with other felony offenses, potentially resulting in years behind bars. Suppose you are currently facing allegations of money laundering or any other financial crime. In that case, your first call should be to the criminal defense attorneys at Eppes & Plumblee in Greenville, SC.
Money Laundering: A Snapshot
Last year, over 61,000 money laundering cases were reported to the federal government. Money laundering occurs anytime funds that have been illegally generated are disseminated into the economic system. This can include any activity from buying stocks, investing in real estate, or purchasing life insurance policies. Money laundering is often charged with other felony offenses, most common of which include drug trafficking, embezzlement, and bank fraud.
Money Laundering Penalties in Greenville, SC
South Carolina law imposes severe penalties for money laundering, which can threaten your freedom and financial future. Money laundering is always a felony offense, meaning that you can expect to be sentenced to a minimum of one year in prison if convicted. The severity of charges will be determined based on the amount of laundered funds.
The South Carolina Anti-Money Laundering Act imposes the following punishments:
- If the amount of laundered funds is between $300-$20,000, you may be sentenced to a maximum of five years in prison or fined (Class F felony).
- If the amount of laundered funds is between $20,000-$100,000, you may be sentenced to a maximum of ten years in prison or fined (Class E felony).
- If the amount of laundered funds exceeds $100,000, you may be sentenced to a maximum of 20 years or fined (Class C felony).
Civil Asset Forfeiture in White-Collar Crimes
White-collar crimes encompass a range of illegal behavior that is financially motivated in nature. Even before formal charges have been filed, the government is allowed to seize any assets that it believes are connected to the alleged criminal activity. This may include your home, vehicle, or bank accounts. Unlike a criminal conviction, the state only has to show probable cause to seize your assets. If your property has been unjustly seized, you must challenge the forfeiture in court. Failing to respond promptly could result in the permanent loss of your property.
Severity of Financial Crime Charges
You may be prosecuted on the state or federal level for financial crimes. Federal charges will be brought in federal court, which has its own set of procedures and laws. Sentencing is based on the United States Sentencing Guidelines, which generally impose harsher minimum punishments than state courts. Both state and federal crime charges should be taken seriously, with a felony conviction stripping you of your firearm rights and impacting your ability to rent an apartment or get a job.
If you suspect that you are currently under investigation for a financial crime, the most important thing you can do is get ahead of it. Criminal investigations can progress rather quickly. Given the federal government’s resources, incriminating evidence can come to light in a matter of a few weeks. During this stressful time, you need dedicated support by your side, which is what you will receive when you work with the legal team at Eppes & Plumblee.
Speak with a Greenville, SC, Criminal Defense Attorney Today
Money laundering allegations place your civil liberties and reputation in jeopardy. Securing competent representation can help you get these charges dismissed without having to proceed to trial. At Eppes & Plumblee, our legal team has successfully assisted thousands of clients in defending against money laundering and other financial crime charges. To arrange your confidential case review with one of our Greenville criminal defense lawyers, contact us online or by phone at (864) 581-3450 today.