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Hal Garfinkel is retained as the defendant's lawyer in the Chicago high profile murder case of Marlen Ochoa-Lopez. Read more...
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Chicago federal crime defense lawyerIf you have ever watched crime shows on television, you are probably familiar with the term “money laundering.” While most people know that money laundering is illegal, many are not sure about what it actually means. Money laundering is a very serious offense that is prosecutable at both the state and federal level, and as a federal offense, it carries the possibility of severe criminal penalties.

Understanding Money Laundering

Money laundering, in general, refers to a process through which a person or group of people attempts to conceal the sources, control, or ownership of money that was generated from certain crimes. It is common for money to be “laundered” by moving it to and from separate accounts, including foreign accounts, or by concealing funds amidst the revenue of seemingly legitimate businesses.

Many different types of crimes could generate funds that a person or criminal enterprise would wish to launder, including but not limited to:

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Posted by on in Money Laundering

Chicago federal crimes attorney, Cook County federal crimes attorney, criminal activity, federal crime, Money LaunderingMoney laundering is a serious crime that involves the misuse of finances from certain properties. There are several ways that money laundering can occur, and this act can lead to unwanted consequences for both the person who committed the crime and the person affected by the crime.

What is Money Laundering?

Money laundering is the act by which a person knowingly disguises proceeds of criminal conduct by making them appear to have been acquired from a legitimate source.

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Illinois federal crimes attorney, Illinois fraud attorney, Illinois defense lawyer, Chances are, if you have been accused of a money laundering crime, you were already aware of the seriousness of the crime before the allegations were filed against you, as it is an activity that has existed for many years. It has been heavily prosecuted, with ramifications that are far-reaching, wielding power to impact countless individuals and organizations, depending on the severity of the offense. This is because money laundering is not a simple, petty crime; it consists of many complex layers and often has a chain-reaction effect that leaves trails of damages.

If you are being accused of laundering activity, here are some steps to take:

Determine Whether Your Activity Is Considered Money Laundering

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Posted by on in White Collar Crime

Illinois defense attorney, Illinois criminal statutes, Illinois criminal lawyer,Most everybody has heard the term “white collar crime” before, but not everyone understands what it means. There are a wide variety of criminal activities that fall into the category of white collar crime, most of which involve the theft of data and financial assets to be used for personal gain. In many cases, the criminal does not even come into contact with their victim, and many victims of white collar crime report being unaware the offense was happening at all. White collar crime is very serious, and anyone facing charges related to a white collar crime should seek the help of a qualified criminal defense attorney.

Common White Collar Crimes

Many different crimes fall under the white collar umbrella. These types of crimes often occur in business or professional settings, leading to the name “white collar.” Common crimes that are considered white collar include:

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The worst thing you can do when facing federal criminal charges is to run. The law will eventually catch up with you—and punish you more severely. Nelson and Janet Hallahan learned that lesson all too well.

The “Mini-Madoffs”

The Hallahans lived in Peoria, Illinois, and were known for their wealthy lifestyle. It turned out that lifestyle was financed through fraud. They ran a Ponzi scheme for nearly six years during the mid-1990s, using new investors to finance phantom returns paid to existing clients. A 2012 Huffington Post article referred to the Hallahans as “mini-Madoffs” for their scheme.

Like most Ponzi schemers though, the Hallahans were eventually caught. In 2000, the couple pleaded guilty on charges of conspiracy to commit bank fraud and money laundering. In exchange for their confessions, federal prosecutors dismissed more than a dozen additional charges and recommended a relatively lenient sentence.

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