Jacksonville Business and Corporate Crimes
Money laundering
When cash obtained from criminal activities, typically drug trafficking, is made to appear legal by channeling it through a business, this act is known as money laundering. The federal and state money laundering statutes often look at the monetary transactions of a business to determine whether money laundering is being practiced. If large transactions (generally over $500) are regularly being paid in cash, rather than by check or another payment method that creates a paper trail, there may be cause to suspect money laundering.
Forms of money laundering
Money laundering is a business crime in Jacksonville and throughout the county that typically takes the following forms:
- Cashing up: The first step in this process is to set up a business that takes large amounts of payments in cash, such as a convenience store. By adding a consistent amount of illegal funds to the normal daily bank deposit, the money is effectively laundered. Cashing up only draws suspicion when the deposits increase dramatically on an occasional basis.
- Captive business: To avoid monitoring, these are generally businesses that offer cash for services, such as might be common for beauty salons. These businesses pay taxes on all income, but may falsify receipts to include illegally-obtained funds. By maintaining a consistent income and selling services, rather than products that must be accounted for, these illegal business dealings often go undetected.
Unfortunately, even law-abiding businesses occasionally experience a sudden influx of income for legitimate reasons. Bank employees are watchful for sudden increases in business income and are required to report anything that appears suspicious. Since legitimate business owners are not trying to hide their income, they can find themselves under investigation when they have done nothing wrong.
At these times, they need the support of a white collar criminal attorney in Jacksonville. An attorney with experience defending against money laundering charges knows how to protect your rights from the initial investigation and throughout the process. Jacksonville white collar crime prosecutions are more and more frequent in these troubled times.
Contact us
If you are being investigated or have been charged with allegedly committing money laundering, you need an experienced criminal defense lawyer to represent you and protect your rights—immediately. Fallgatter Farmand & Catlin has extensive experience in federal as well as state criminal cases, along with years of federal prosecutor experience. We understand the intricate investigation strategies used by federal agencies to indict and attempt to see convicted those accused of white-collar crime.
Contact us online, or call our office today at (904) 353-5800, and we will arrange a consultation at no cost or obligation to discuss your concerns.
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