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Katy Money Laundering Attorney

Money laundering is a serious offense that could be charged by either the state of Texas or the federal government. Penalties can be severe and include incarceration and large fines. If you are facing these allegations, you need a Katy money laundering lawyer to review your case and guide you through the legal process.

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If you suspect that you are being investigated for money laundering, or you have been formally charged, you need to hire a money laundering lawyer who can work tirelessly for your interests and protect your rights. At Greco Neyland, PC, we understand how overwhelming this process can be. We are prepared to represent you throughout the process and take your case to trial if necessary. Our team can represent you in either state or federal charges.

Money Laundering in the United States

The United States Sentencing Commission is an organization that works to reduce sentencing disparities and promote proportionality in sentencing. They also collect and publish information on the sentencing practices of various offenses. During fiscal year 2024, the Commission received reports of 61,678 cases. Of those cases, 1,095 involved money laundering.

Money laundering cases have decreased from a high of 1,132 in fiscal year 2023, but are still above the fiscal year 2020 low of 755. Victims of money laundering lost a median of $526,000. Only 0.9% of cases involved less than $6,500, and 31.7% of cases involved more than $1.5 million. The Southern District of Texas had the third-highest number of money laundering offenses.

Facing money laundering allegations as a Katy resident can be challenging. If the charges are through the state, your case could be heard at either the Fort Bend County District Courts in Richmond or the Harris County Criminal Courts in Houston. Federal charges are heard in the Tribunal de Distrito de EE.UU. para el Distrito Sur de Texas, located in Houston.

The Basic Money Laundering Offenses

Money laundering in Katy, Texas is defined under Texas Penal Code Section 34.02. Under this section, a person can face money laundering charges if they engage in one or more of the five basic money laundering offenses. These offenses include:

1. Obtaining or maintaining an interest in the proceeds of a actividades delictivas
2. Conceal or impede the tracing of funds obtained through criminal activity
3. Transfer or transport funds obtained through criminal activity, especially if done to disguise their source
4. Complete, supervise, or otherwise facilitate transactions involving funds obtained through criminal activity
5. Receive funds obtained through criminal activity, which includes using these funds to run a legitimate business, create investments, or purchase real property

The person who engages in one or more of these offenses has to be aware that the funds were obtained through criminal activity. If a person believes that funds were obtained through criminal activity, even if they were not, and accepts them, they can be charged with money laundering.

Money Laundering Penalties in Katy, TX

Penalties for money laundering are determined based on the total dollar value of the funds that were laundered. Federal money laundering charges are treated as felonies, and include:

• Delito grave de cárcel estatal: Amounts from $2,500 to $30,000. Confinement from 180 days to not more than two years. Fines up to $10,000.
• Delito grave de tercer grado: Amounts from $30,000 to $150,000. Imprisonment from two to ten years. Fines up to $10,000.
• Delito grave de segundo grado: Amounts from $150,000 to $300,000. Imprisonment from two to 20 years. Fines up to $10,000.
• Delito grave de tercer grado: Amounts more than $300,000. Imprisonment for life or from five to 99 years. Fines up to $10,000.

FAQs About Katy, TX Money Laundering Laws

How Much Does It Cost to Hire a Money Laundering Attorney in Texas?

The cost to hire a money laundering attorney in Texas varies with the complexity of the case and the severity of the charges. Simple cases typically cost less, and some attorneys may offer a flat fee for their services. Generally, money laundering attorneys charge an hourly rate and require a retainer fee before they can begin working on your case.

What Qualifies as Money Laundering in Texas?

In Texas, money laundering involves funds received through illegal activities, such as fraud, tráfico de drogas, or organized crime, where those funds are run through legitimate or illegitimate businesses to make the funds appear to derive from legal sources. Being involved in any aspect of the act of laundering money is considered money laundering and can be charged. Knowing the funds came from illegal activity is a requirement to charge someone.

Is There a Minimum Amount to Be Considered Money Laundering in Katy?

No, there is no minimum amount to be considered for money laundering in Katy. Any amount of money involved in money laundering can initiate an investigation. Penalties increase as the amount increases. Amounts under $2,500 are considered misdemeanors and charged by the state.

Higher amounts are considered a federal charge and are charged as felonies. Charges can range from a state jail felony to a third-, second-, or first-degree felony depending on the total amount of funds involved in money laundering.

What Types of Funds Are Considered in Money Laundering Cases in Katy?

Money laundering in Katy does not only include cash funds and foreign currency, but can also include numerous types of funds defined under the money laundering statute. Other types of funds include U.S. silver certificates, treasury notes, and Federal Reserve System notes. Currency equivalents such as electronic funds, checks, money orders, securities, and certificates. Digital currencies are also considered funds.

How Does Texas Define Criminal Activity as It Relates to Money Laundering?

Texas defines criminal activity within the money laundering statute. Criminal activity includes any offense that is classified as a felony in Texas or punishable in another state for more than one year. Some common offenses associated with money laundering include drug crimes, human or weapon trafficking, fraud, and organized crime. Money laundering is often achieved through front businesses, cryptocurrency exchanges, or real estate and asset purchases.

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Conviction for state or federal money laundering charges can substantially alter the course of your personal and professional life. You could be facing years of incarceration and the challenges of having a criminal record after your release. You shouldn’t face these allegations without experienced counsel. Contacto Greco Neyland, PC, today to schedule your initial confidential consultation.