In North Carolina, legitimate business owners can easily find themselves in court facing charges for money laundering. Law enforcement agencies look for ways that potentially illegally obtained funds or funds obtained from illegal activity are being placed into legitimate commerce. If you face criminal charges, it is crucial to consult a criminal defense attorney before speaking with law enforcement.
At Randall & Stump, Criminal Defense Attorneys, we will explain your rights and discuss potential defense strategies that may be available based on the facts of your case. Our criminal defense attorneys helped write the book on criminal procedure in North Carolina and have handled these cases in federal court.
When investigating an individual or organization for money laundering, law enforcement agencies are looking for both blatant and concealed violations of federal currency regulations. One common scheme is referred to as cash structuring. For example, let’s say the street value for a kilogram of cocaine powder is $30,000. Investigators will look to pinpoint cash deposits, typically in even dollar amounts, over a short period close to the time they believe the drugs were sold, that equal this amount.
When the client operates a legitimate business, violations typically relate to a failure to report large transactions. These charges can come in combination with other white collar charges. The agencies that generally investigate money laundering are the FBI, the Drug Enforcement Administration (DEA), the IRS and the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF).