The process of money laundering in California is described as the attempt to disguise criminally obtained proceeds through a complex scheme of transactions or even the physical relocation of cash in order to leave the impression that the proceeds were obtained lawfully. It should be noted that tax-evasion is a form of money laundering. Kroger Law's Money Laundering & Cryptocurrency Attorneys are well equipped with knowledge regarding pertinent money laundering laws that are used to prosecute the money laundering of illegal drug proceeds and other criminal proceeds.
The following laws govern the criminal definitions and elements of money laundering:
Cryptocurrency has many forms. In fact, there are over 2000 different types of cryptocurrency. More than this, however, there are more online markets for cryptocurrency than there are types of cryptocurrency themselves. The currency is defined as an intangible asset that can be transferred nearly instantly between anyone with access to the internet. For popular types of cryptocurrency like Bitcoin, Ethereum, and Litecoin, there is only a set amount of coins available. For Bitcoin––the most popular form of cryptocurrency–– there will only ever be 21 million units. No one person controls the currency, but rather, each transaction that takes place is confirmed by others on the block chain. This is why people call Bitcoin “de-centralized”.
All the time. On websites like Silk Road, Silk Road 2, and Black Market Reloaded, people can order drugs to their homes and pay using cryptocurrency. Drug vendors that sell on these websites often launder money they receive via bitcoin. Since Bitcoin is not as anonymous as people think, vendors often get charged and prosecuted for both drug distribution and money laundering crimes. Given that each transaction can be its own count of money laundering, the penalties can be very harsh.
***Each Transaction can be its own count of a crime***
For violations of 18 U.S.C. 1956:
Case Law: United States V. Santos
Facts of the case:
William Kroger is a smart, knowledgeable and experienced criminal defense attorney. He represents clients who have been charged with both physical and online drug crimes, including the distribution of illegal drugs, money laundering, and possession of drugs.
William Kroger and his team of experienced criminal defense attorneys understand that if you are facing a criminal charge related to any drug crime, it can deeply disrupt your life. William Kroger is committed to your defense. His proven track record of exceptional criminal defense is your best option to defend yourself. Contact William Kroger Attorney at Law today at 323-655-5700 to discuss your case. The sooner you retain legal counsel, the sooner he and his legal team can begin work on your case.