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Money Laundering

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So money laundering, again, you can see in state or federal court, and generally it’s just referring to the fact that a client allegedly got funds from an illegal source. So what I see a lot would be drug trafficking. So they take their profits that is usually cash from something that’s illegal, and then they funnel it into a business to make it seem legitimate. Frankly, you can see a lot of stores on Hollywood Boulevard where I always question if those are fronts and actually money laundering businesses. So you know, it’s like the little bodega or 9-11 – the 7-11 that sells little products that clearly never has any customers, never actually has income, but that somebody has funneled money from something else. And so the reason it’s illegal is money laundering suggests that you’re concealing the actual source of where your money is coming from and trying to make it look legitimate, when it actually comes from either stealing, embezzlement, or something like drug trafficking.

Los Angeles, CA criminal defense attorney Karen L. Goldstein explains money laundering and why it’s illegal.

Karen is the recipient of Trial Attorney of the Year 2020, The Jerry Giesler Memorial Award, by the Criminal Courts Bar Association (CCBA).

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