If nothing else, Arizona is a state that is known for being tough on crime. In recent years, the state underwent a huge overhaul when it came to white collar crime. Now, police are cracking down more on it than ever before. Being charged with money laundering is an extremely life-changing event—one often described as terrifying and reputation-ruining.

So, what should you know if you recently were charged with money laundering? What does that even mean? This is what everyone should know about this extremely threatening charge.

What Is Money Laundering?

Money laundering is the act of trying to hide the source of illegally-gained money through the use of multiple transfers, differing bank accounts, or transactions. Once all the transactions are done, the illicit money gets returned back to the launderer—appearing legitimately.

Money laundering is considered to be a white collar crime, not to mention a felony. In some cases, it won’t be a state offense, but rather, a federal offense. This is an umbrella term for a wide range of different activities relating to the aiding and abetting of hiding funds that were involved in illegal activities.

How Can You Be Charged For Money Laundering In Arizona?

There are several ways that a person can be charged for money laundering in Arizona. The most common ways you can get this charge include (but are not limited to):

• Directly managing, directing, and transferring money that has been used for terrorism, murder, or racketeering.
• Making property available that will be used in a sale for money laundering.
• Knowingly facilitating a transaction for money laundering.
• Avoiding reporting money that was earned through illicit transaction, or failure to report omitted information about a specific transaction linked to laundering.
• Acting as a person who knowingly omits or lies about a transaction used to money launder.
• Bribing a financial professional at a banking institution to override a transaction in order to push through money laundering.
• Actin as a person who knowingly receives funds as part of a money laundering scheme.

How Serious Is A Money Laundering Charge?

Arizona makes it crystal-clear that money laundering will not be tolerated by law enforcement. As such, it can be anything from a Class 2 Felony to a Class 6 Felony, all depending on the severity of the actions committed as well as the amount of money that has been laundered.

For example, if you laundered money that was used in a murder-for-hire action, then it will be a Class 2 felony. If you just didn’t report a small money laundering transaction, that would likely be a Class 6 felony.

Why Money Laundering Is Rarely A Single Charge

The thing about money laundering is that most people don’t just get money laundering. Most individuals that get charged with money laundering are also linked to other crimes. For example, a person who trafficked drugs then laundered the money will get charged with both crimes.

In the now-notorious case of Keith Rainiere, cult leader of NXIVM, he was charged with a number of crimes involving human trafficking and sex trafficking. As the investigation continued, he was also charged with money laundering, since he made his illegal profits appear like legal money.

What Is The Punishment For Money Laundering In Arizona?

The punishment that you should expect to receive depends on the judge’s personal discretion as well as the level of felony that has been committed. With that said, this is what you should be aware of when it comes to money laundering’s potential punishments:

• Class 6 Felony: Up to 6 years in prison, and a fine of three times the amount of money laundered or $2000. The presumptive minimum prison sentence is a year.
• Class 3 Felony: If more than $100,000 was laundered over the course of 12 months, then you will be subject to forfeiting three times that amount. First offenders will also receive a prison sentence of 8.5 years. The typical presumptive term is 3.5 years.
• Class 2 Felony: If more than $100,000 was laundered over the course of 12 months, then you will be subject to forfeiting three times that amount. The prison sentence for this charge is between 5 to 12.5 years.

The prison sentences mentioned are all listed for first-time offenders. If you are a repeat offender, prison sentences will probably be extended. Some prison sentences can be extended to a maximum of 35 years.

How Will A Money Laundering Charge Impact My Financial Future?

If there is one reason why you should avoid money laundering, it’s the impact it can have on your financial future. Along with spending years in prison, being a felon convicted of a financial crime can have dire consequences for your career. Some of the most notable ways it can impact you can include:

• You will be unable to get hired for any jobs that specifically bar felons. A lot of jobs, particularly those that involve security-related issues, will not hire felons. You could be unable to get a job.
• The chances of you getting a job in finance will be virtually zero. A serious charge like this could make it impossible for you to work in the financial world. Legally, insurance reps and stockbrokers cannot hire you. The same may also be said for bank tellers.
• Employers won’t trust you. Sometimes, this can lead to you not being hired. Other times, it will lead to you being stuck in a dead-end job for life. Most people who re-enter the workforce after being charged with money laundering find themselves working minimum-wage jobs as a result of their charges.

How Do You Fight Charges Involving Money Laundering?

There are several ways you can fight money laundering charges, but the most important thing to remember is that it’s always best done with a qualified lawyer. Since this is such a complex crime to defend, you have to have someone who is knowledgeable about this issue.

Most defenses will include one of the following statements:

• You were not aware that the transaction in question involved money laundering.
• You did not intend for the transaction to be a form of money laundering, and didn’t want it to be.
• The police who arrested you did not adhere to the boundaries given to you by your Miranda Rights. (This doesn’t mean that they didn’t read you your rights, by the way.)
• When you were first sent into police custody, you were denied legal counsel.

What Should You Do If You Were Accused Of Money Laundering?

Before you say anything to anyone else, the first thing you should do is call up a lawyer who specializes in fighting criminal charges in Arizona. Our state’s legal system is one that is extremely complex, and meant to be as tough as possible on crime.

A money laundering charge is something that can destroy your life, as well as the lives of your loved ones. Knowing that, you should never try to fight a case as serious as this without the proper help. If you are facing a criminal charge featuring this crime, call our office today. It might be the call that saves your life.