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Money Laundering

Houston Money Laundering Attorney – Shahin Zamir

In Texas money laundering is a serious white-collar crime that carries stiff penalties. It is punishable with up to 20 years in prison and fines of over $500,000. Anyone thought to have laundered over $200,000 can be charged with a first-degree felony.

Call Shahin Zamir at 713-223-8900.

What is Money Laundering?

Basically, money laundering is making money from an illegal source look as if it came from a legal source. Since the illegal money is often called “dirty money,” the process of making it look legal or “clean” is called “money laundering.”

Why do criminals bother with money laundering? Because if they are caught with massive amounts of money, live in a posh home and sport swanky toys, chances are that they got that money illegally. Even if you honestly do not know where all of your money came from, you are still legally responsible for finding out. If you are under investigation for this crime, schedule an appointment with a money laundering lawyer in your area today.

Types of Money Laundering

The actual process of money laundering is very complicated. Each day, criminals try new processes in order to make it harder to trace where any money came from. These are the basic known types:

  • Round tripping: Money gained illegally is placed in an offshore account, often under a false business name. The criminal then gets a Foreign Direct Deposit receipt which can be shown to the IRS. Money can be placed by wire, electronic transfer or in cash.
  • Real estate flipping: Homes, buildings or other real estate are bought in cash or mostly in cash to a grateful owner who does not realize that the money is dirty. The property is then sold as quickly as possible by the new owners.
  • Layering: Dirty money is placed in offshore accounts and then divided up and placed in more banks all around the world. Some of the money is used to buy high-ticket items like diamonds, houses or boats. These can be re-sold for clean money. Some money keeps getting transferred from one bank to another to make it extremely difficult to trace.
  • Black salaries: Employers pays workers in cash and not the usual check or direct deposit. Cash is difficult to trace, especially if it is in small bills.
  • Buying a foreign bank: This is a technique for laundering massive amounts of money. Countries with lax laws often have banks that are always for sale. A high-stakes criminal can buy controlling interest in the bank and then use it as part of a money laundering scheme.

Talk to a Houston Money Laundering Lawyer

Shahin Zamir is a former assistant district attorney. He will use his vast experience in the legal field to protect your constitutional rights.

Get a free case evaluation from Houston money laundering lawyer Shahin Zamir by contacting 713-223-8900.