Money Laundering

According to the state of Tennessee, money laundering is the act of knowingly using proceeds from a ‘specified unlawful activity’ to conduct a financial transaction with the intent to disguise criminally derived proceeds. Often, this can involve using an otherwise legitimate business as a cover for processing money gained from illegal activity.

There are a wide range of punishments possible when an individual is convicted of money laundering. They include –

  • Jail sentence
  • Fines
  • Restitution
  • Probation
  • Supervised Release
  • Forfeiture of property

One of the key elements of a money laundering case is that the ‘unlawful’ activity in question has to be a felony in order for the action to qualify as money laundering. For instance, if the money was gained through illegal gambling, the charge of money laundering is unlikely to stick because gambling is not usually charged as a felony.

If you are facing money laundering charges in Tennessee, give us a call at The Issacs Law Firm today. We will be happy to provide you with a free consultation and indicate how you can best proceed with your defense. We can be reached during business hours at 865-673-4953.