The term “white collar crime” can cover many different types of alleged criminal activity. Tax evasion, embezzlement, fraud and even extortion could all be considered different types of white-collar crimes. The complexity level of these different types of crimes can vary, but there is perhaps no more complex white-collar crime than money laundering.
So, what is “money laundering”? This term is itself a type of umbrella term, which generally refers to taking money that has been obtained through illicit means and putting it through financial systems in such a way that the funds can be returned “clean”—or purportedly legally obtained—to the alleged criminal behind the scheme.
Of course, such a setup can be as complex as a person could imagine. Sometimes, offshore accounts are involved, different types of businesses might be involved and the amount of money involved can vary greatly. The complexity of alleged money laundering schemes means that it can be quite difficult for law enforcement and prosecutors to prove such a case without extensive evidence.
Planning your defense
If you are facing white-collar crime charges in New York that involve allegations of money laundering, it is crucial to begin planning your defense strategy as soon as possible. The consequences of a conviction can obviously be devastating for a criminal defendant. The prosecution will want to look at a defendant’s level of involvement in the alleged scheme, where the alleged illegal conduct occurred and, of course, who else was involved. Prosecutors will want to track all leads, and a defendant’s freedom and finances are on the line.