Money Laundering Attorney

Money laundering is a white collar crime that involves concealing money derived by illegal conduct. The scheme involves money being passed through a series of commercial and banking transactions.

Money laundering generally consists of 3 steps. The first step is placement. Placement involves putting the money derived by illegal means in to the financial system. The second step related to money laundering is layering. Layering involves concealing the origins of the “dirty money” through complex transactions and accounting schemes. The third step is integration. Integration involves taking the now laundered funds and using them anyway the “launderers” desire.

Often, when investigating money laundering cases, “structuring” is part of the money laundering charges. Structuring also known as smurfing is when large amounts of cash are broken up in smaller deposits spread out amongst different accounts, to avoid being detected.

Other ways money laundering can be accomplished are via wire transfers, currency exchanges, and cash smugglers or “mules” who transport cash over borders and make deposits in foreign accounts where the enforcement of money laundering is less stringent. Other methods include investing in gems or gold, inconspicuous investments in real estate, counterfeiting, gambling or the use of shell companies.

The government is taking financial transaction fraud very serious in regards to money laundering and expanding its definition to include almost all financial transactions. Hence, if you are facing these charges, it is critical that you have a money laundering attorney in Miami who understands the differences between a federal crime and other less significant charges.

A money laundering conviction can result in severe outcomes. A 20 year prison sentence and extensive financial penalties including forfeiture and restitution are possible.

As a trial attorney in the Money Laundering and Bank Integrity Unit of the Asset Forfeiture and Money Laundering Section of the Criminal Division of the U.S. Department of Justice in Washington, Michael Padula prosecuted white collar domestic and international criminal cases and conducted investigations against financial institutions and their officers, managers, and employees for violations of the Bank Secrecy Act.

Michael investigated and prosecuted high-end international money laundering cases, including those involving virtual currencies, government-issued bonds, and the Black Market Peso Exchange. His insider perspective and understanding of the DOJ’s operations are an asset to clients on matters related to compliance, regulatory issues, investigations, and high-stakes litigation.

Contact Attorney Michael Padula

If you have encountered the serious charges of money laundering, a lawyer highly experienced and skilled in all facets of money laundering is vital to your defense. For a free and confidential consultation call (305) 455-5206.