Federal Money Laundering 

A crime of money laundering occurs when individuals take money obtained from illegal or criminal activity and channel it into legal bank accounts or other legitimate uses to conceal the money’s illegal sources. California penalizes money laundering in 3 main statutes: 

• Penal Code 186.10 – covers money related to any kind of crime; and
• 18 U.S. Code § 1956 - Laundering of monetary instruments.
  
• California Health and Safety Code 11370.9 HS – deals with money earned from drug crimes.

A violation of PC 186.10 is a “wobbler” offense that may be charged as either a misdemeanor or a felony, depending on the facts of the case and the defendant’s criminal history. Misdemeanor money laundering will be punishable by up to 1 year in county jail and/or up to $1,000 in fines; felony money laundering will be punishable by up to 4 years in jail and/or up to $250,000 in fines or twice the amount of money laundered, whichever is greater. Note that the maximum jail sentence can increase if the money laundered amounts to more than $50,000.

There are several ways to defend against a money laundering charge, and Attorney Tim A. Pori can help you strategize the optimal argument. For instance, you could prove that you did not act with specific intent to promote criminal or illegal activity, or you could show that law enforcement violated one of your constitutional rights in the process of charging and arresting you.

Embezzlement

According to California Penal Code 503, embezzlement is when a person unlawfully takes property that has been entrusted to them and do so with the intent of depriving the rightful owner of the use of that property. Embezzlement can involve small amounts of property or high-value assets. For instance, a person may be charged with embezzlement if they are a cashier who pockets some cash from the register or if they are an investor who takes some of their clients’ money for their own use.

Embezzling money or property that is valued at $950 or less is a misdemeanor punishable by up to 6 months in county jail. Embezzling money or property worth more than $950 will be charged as a felony punishable by up to 3 years in jail.

Note that a conviction for embezzlement may affect your gun rights. In California, convicted felons are prohibited from acquiring or possessing a gun in the state, so if you are facing felony embezzlement charges, it is possible you will lose your right to own and possess a gun.

Some ways to defend against a charge of embezzlement include arguing that you had no intent to deprive the owner of their use; you did not engage in fraudulent use; or you had good faith to believe you had a certain right to property. Attorney Pori can examine the facts of your case to determine the most viable defense for a dismissal or mitigation of your charges.

If you have been charged with a white collar crime in Fairfield, CA, whether for money laundering, wire fraud, or embezzlement, the Law Office of Tim A. Pori is prepared to represent you. We will take a thorough look at your situation to craft a unique legal strategy to protect your rights.

Call (707) 309-3480 or contact the Law Office of Tim A. Pori online for a free consultation to get started.