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Clearwater Money Laundering Attorney

Money laundering dates back to ancient times, but became prevalent in mainstream U.S. society during the prohibition years. Money laundering is a term used to describe the cleaning of illegally made or procured assets. The cleaning aspect refers to injecting those assets into the legal financial system so that they are taxed and can be used without concern of being caught for tax evasion and so that the assets cannot be traced back to the original crime. Often, a dummy company is set up and made to appear that it earned the assets through legitimate business practices. There is a heightened concern among authorities when it comes to money laundering these days because money laundering is now being associated with terrorist activities. A terrorist organization will launder its finances to hide the origin, and national and international crime fighting organizations are investing more and more resources into this growing problem. Money laundering, no matter the scale on which it is done, is seen and treated as a serious offense to the financial stability of this country, and is treated as such. Often, the original offenses are not able to be dug up by the prosecution, which is why money laundering itself is punishable to the extent that it is. Depending on the frequency of money laundering activity and the amount that was laundered, a convicted person may spend up to 30 years in prison for laundering amounts greater than $100,000, which constitutes a first degree felony under Florida law. Contact the Clearwater law office of Roman & Roman today to speak with one of our Clearwater money laundering attorneys.

Money Laundering a Threat to Tax System and U.S. Economy

According to the U.S. Treasury, $300 billion, or two percent of the total U.S. economy, is generated through illegal financial crime activity, and much of those assets are laundered afterwards. Furthermore, money laundering is a large threat to the U.S. tax system because, according to the Internal Revenue Service (IRS), along with legal finances, illegal sources of money become taxed and this “untaxed underground economy ultimately erodes public confidence in the tax system.” The IRS is one of the many federal agencies that crack down on fraud and money laundering. The cases that the IRS, FBI, Department of Homeland Security, Financial Crimes Enforcement Network, and other agencies put together are incredibly fact-based and detail-oriented cases against defendants, which is why an attorney with vast money laundering and fraud experience is the best chance you have in staying out of prison. Along with a lengthy prison sentence and losing your job, you may be facing high fines that reach well into the hundreds of thousands of dollars. The crippling punishments of being found guilty of any degree of money laundering are simply too great of a threat to take at all lightly.

If you have been charged with money laundering, contact an experienced Clearwater money laundering defense attorney today with the law offices of Roman & Roman. Our Clearwater law office can be reached at 877-767-1032; give us a call today for a free consultation.

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Clearwater Office

Clearwater Office

fax: 727-736-3234
2274 FL-580
Clearwater, FL 33763
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