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Money Laundering: Penalties & Prison Time

The concern about possible penalties for money laundering has recently increased.  Money Laundering is broken down into three degrees which yield different class felonies.

First degree money laundering is a class two (2) felony.  This means that for a first offense, punishment can be probation with zero (0) days in jail up to one (1) year in jail, or prison of three (3) years to twelve and one half (12.5) years of incarceration.  Now, if the person has a prior felony conviction, then the sentences increase drastically.  For example, one (1) prior conviction puts you in to “prison only” range which is four and a half (4.5) years to twenty-three and one quarter (23.25) years in prison.  If the person has two (2) prior convictions then it increases to “prison only” with ten and one half (10.5) years to thirty-five (35) years of incarceration.

Second degree money laundering is a class three (3) felony.  First offense: Probation with zero (0) days in jail, up to one (1) year in jail or prison range of two (2) years to eight and three quarters (8.75) years in prison.  One (1) allegeable historical prior conviction:  Prison only range is three and one half (3.5) years to sixteen and one quarter (16.25) years of incarceration.  Two (2) allegeable historical prior conviction:  Prison only rage is seven and one half (7.5) years to twenty-five (25) years of incarceration.

Third degree money laundering is a class six (6) felony.  First offense: Probation with zero (0) days in jail, up to one (1) year in jail or prison range of four (4) months to two (2) years in prison.  One (1) allegeable historical prior conviction:  Prison only rage is nine (9) months to two and three quarters (2.75) years of prison.  Two (2) allegeable historical prior conviction:  Prison only rage is two and one quarter (2.25) years to five and three quarters (5.75) years of incarceration.

In addition to all other penalties, if a person commits First-Degree or Second-Degree Money Laundering and the violations involve a total of $100,000.00 or more in any twelve (12) month period, the person is subject to forfeiture of substitute assets in an amount that is three (3) times the amount involved in the pattern of conduct, including conduct that occurred before and after the twelve (12) month period.

If you have recently been arrested for Money Laundering and would like to see the possible defenses, visit the Money Laundering page and contact us immediately.

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