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Money laundering is either the illegal receipt of or the improper utilization of funds that are illegally obtained. For example, let’s say that a person sells a kilo of marijuana for $10,000 or whatever the number would be that is one offense, if they take those funds and they put them in a bank account that can be money laundering. If they take those funds and they buy a car with them that’s money laundering. But simply put, it is the utilization of funds illegally derived just about anything you do with illegally derived funds can serve as a basis for money laundering.
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Houston, TX criminal defense attorney Dan Cogdell talks about what money laundering is and his cases involving it.