Being accused of money laundering can be like entering a legal cornfield, especially if you are unsure about the possible consequences. The duration of a sentence is determined by several factors, such as the amount of money involved and whether the offense is linked to other criminal activities. Today, our team provides a general overview, discusses the factors that influence the duration of a money laundering sentence, and provides some next steps if these charges are impacting your life.
A Brief Explanation of Money Laundering
Money laundering is the process of making illegally obtained money look legal or legitimate by concealing where it came from. In simpler terms, it’s like trying to hide dirty money.
Money laundering can fund crimes like drug trafficking, human trafficking, and terrorism. It can also be used to evade taxes and defraud governments.
What Is the Minimum Sentence for Money Laundering?
The courts see money laundering as a serious federal crime. Many factors affect how much jail time for money laundering you could receive.
Although there’s no set minimum sentence for money laundering, federal sentencing guidelines indicate that the average minimum sentence was 71 months in 2023. However, more severe cases can lead to much longer terms. Therefore, it’s crucial to know how the specifics of your case apply to the law because what seems like a minor charge could quickly lead to substantial prison time.
Money Laundering Jail Time
Depending on the specifics of the crime, jail time can range from a few years to decades. Being found guilty of laundering large amounts of money could result in a sentence of 10 to 20 years in prison.
For example, laundering money through complex financial schemes involving banks or offshore accounts can lead to enhanced sentences under federal guidelines. Additionally, if the crime is linked to terrorism, you could be looking at life in prison.
What Factors Influence a Money Laundering Sentence?
What determines how much money laundering jail time you get? Several factors play a role, including:
- The amount of money laundered;
- Whether the laundering was tied to other criminal activities;
- Your level of involvement in the scheme;
- Any past criminal convictions; and
- Cooperation with law enforcement during the investigation.
First-time offenders who laundered small amounts could face a sentence ranging from one to several years in prison. However, if large sums of money were involved or the laundering was part of an organized crime syndicate, jail time could reach up to 20 years.
How Can You Reduce Your Jail Time for Money Laundering?
Facing jail time doesn’t mean you’re out of options. Working with law enforcement or negotiating a plea deal can lead to a reduced sentence. Providing information on larger criminal operations or agreeing to testify in court can lead to significant reductions.
However, getting a good plea involves negotiating strategically with the prosecutor, and getting the plea bargain approval by the judge. So, the wisdom of seeking counsel from an experienced defense attorney cannot be overstated.
Contact Us for a Free Case Consultation
At Smith & Holder, PLLC, we’ve successfully represented hundreds of clients facing serious criminal charges, including money laundering. Our experienced attorneys are dedicated to providing aggressive and effective representation to get you the best resolution possible for your case.
Resources:
- What Is Money Laundering? Financial Crimes Enforcement Network, link
- Money Laundering Overview, U.S. Department of Justice, link
- 18 U.S. Code § 1956 – Laundering of monetary instruments, link
- Money Laundering, U.S. Department of the Treasury, link
