Hiding proceeds from criminal activities such as gambling or drug dealing requires some ingenuity by criminals in efforts to avoid getting caught. One thing some attempt to do is convert illegally gained money into legitimate sources.
This is also a criminal act known as money laundering. Some cases involve hiding the source of money gained from an act of terrorism. Other cases involve funneling money to support acts of terrorism. In New York, both can lead to serious charges.
How Violation of New York’s penal code 470.22 Occurs
You could be prosecuted for money laundering in support of terrorism in the third degree under New York’s Penal Code 470.22 if you:
1. Have knowledge that property used for one or more financial transactions has come from proceeds in an act of terrorism. Monetary instruments that are received, given or intended for the use of supporting terrorism also constitutes a crime in which your intent is to promote such criminal conduct. Avoiding tax laws and/or concealing the ownership, source, location and nature of the proceeds from an act of terrorism also apply. Avoidance of any transaction reporting requirement under the law when one or more the financial transactions exceed $5,000 apply.
2. Knowledge that property from one or more financial transactions is from an act of terrorism and you transmit, transfer or transport monetary instruments from New York is a crime. Doing so with the intent to promote the continuance of criminal conduct, knowing that the purpose of this activity is in whole or in part done to disguise or conceal any specific details about the ownership or control of proceeds from an act of terrorism. Again, the monetary value for such criminal behavior is over $5,000.
3. Performing one or more financial transactions using property that is from an act of terrorism, or where a monetary instrument is given, intended or received in support of terrorism while promoting the carrying out of criminal conduct is another reason for prosecution. When the monetary instrument is over $5,000 and it is used to avoid legal transaction reporting requirements and there are attempts to conceal or disguise the source, location, nature and ownership, you may face criminal charges.
A young lady meets a man who tells her he works as an investment banker. His frequent extravagant gifts appear to support his career choice, she has no reason to not believe him. While the man works as a businessman, he is also involved with terrorist activities. The money he receives from customers is actually payments for the acts of terrorism that he commits.
He also uses the money to buy his new girlfriend expensive gifts. However, unless the girlfriend knew about his activities, she cannot be prosecuted for laundering money in support of terrorism. Committing the crime requires having knowledge or intent.
Defenses in Support of Defending a Charge of Violating Penal Code 470.22
Often, the person or entity that is money laundering does not know the money is from criminal activity associated with terrorism. If so, there can be no conviction of money laundering in support of terrorism in the third degree.
Speak with The Spodek Law Group Today!
Although you might not have knowledge that the money is from an act of terrorism, you may still face the “crime” of being associated with the wrong people at the wrong time. If so, you want a strong defense from a NYC criminal attorney.
Spodek Law Group has the experience you need if you are being investigated for money laundering in support of terrorism in the third degree. Conviction can lead to a prison sentence of up to seven years. Getting representation as early as possible is crucial to building a strong defense.
Todd is a miracle worker who will work tirelessly for you and your family. He is one of the few attorneys i've met - who I earnestly trust to protect me, and who I am happy to refer to our friends and fellow family members. The Spodek Law Group is someone you want on your side, because they will treat you just like family. Todd and his team are available 24/7, and they always answered our calls. Even when we were being irrational, and crazy - they were calm and super helpful. Just call Todd. He gives you a free consultation and is very understanding.- Donna & Robert
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