What are some money laundering variants?

On Behalf of | Feb 23, 2021 | White Collar Crimes

In legal terms, money laundering is the act of transferring illegitimate funds through a legitimate source to make it look like you acquired the funds legally. Some people in California commit money laundering by funneling their money through restaurants or businesses that they own. Others turn to other variants in the hope of evading the authorities.

What are some money laundering variants?

Instead of using a real business, some people transfer their money through a shell company. This is a made-up company with official-looking documents. Others commit white-collar crimes by investing their illegitimate funds into expensive commodities. They might buy gold, jewelry or gemstones so they can transfer their wealth more easily.

Some people also transfer their funds to offshore accounts in foreign countries. If necessary, they might exchange their funds into the local currency. It can be harder for U.S. authorities to find illegal funds in offshore accounts, especially if they choose a country that doesn’t have strict money laundering laws. Others keep their money within the U.S. but send it to multiple accounts so it’s not all concentrated in one place. In any case, you might want to hire a criminal defense attorney if someone has accused you of money laundering.

Has someone accused you of a white-collar crime?

White-collar crimes usually aren’t violent, but they’re still incredibly damaging to your reputation. Sometimes a simple misunderstanding or an error in judgment can result in sudden criminal charges.

An attorney could help you defend yourself against charges of money laundering, embezzlement, fraud, bribery and other white-collar crimes. If you win your case, you could walk away free and return to your regular life. An attorney could assist you with felony charges, multiple charges and anything else that the prosecution might throw at you.

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Gary Jay Kaufman
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