Casino Money Laundering Cases

What is Money Laundering?

Money laundering is a federal crime in which large sums of ‘dirty’ currency earned from illegal activity (such as drug or sex crimes) is ‘cleaned’ and deposited into a legally sanctioned banking institutions. The reasoning behind this is due to the fact that banks must report large or suspicious transactions to the IRS.

If convicted of money laundering you could be facing:

The defendant was known as the “money-man” of the drug trafficking organization because he was responsible for laundering the organization’s illegal proceeds from drug sales. The defendant was a known, though modest, gambler until hired by the drug trafficking organization to launder its profits. Let VIPs ‘bend’ anti-money laundering rules to protect casino revenue, B.C. Inquiry told Samuel Cooper and Sam Cooper. In one case in 2015, Gao lost about $500,000.

  • Up to 20 years in a federal prison
  • Up to $500,000 in fines

You must seek legal counsel when accused of money laundering. Our Las Vegas criminal defense attorney has the experience in both, federal crimes and white-collar crimes you need to start building a strong defense.

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Structuring

Also known as smurfing, structuring is when someone takes the total amount of dirty money and breaks it into smaller, less suspicious amounts. Rome blackjack wide receivers. They often purchase money orders or cashier’s checks in order to avoid suspicion from the bank. Although money orders and cashier’s checks are completely legal, depositing a large number of them with or around the same total could look suspicious. As such, if your profession requires that you deposit several cashier’s checks or money orders at a time, prepare for the possibility of an investigation for money laundering.

Trade-Based Laundering

Casino Money Laundering Cases Involving

Similar to embezzlement, trade-based laundering typically involves altering invoices or business documents in order to disguise dirty money as business profits. Because the money has a paper trail, the bank does not suspect the profits as “dirty.” However, if your business documents show an unexplainable, substantial profit increase, the bank may see it as a red flag and investigate further.

Cash-Business Laundering

If you deposit a large amount of cash for your strip club, car wash, or other cash-heavy business, the bank has no way of knowing if the cash is dirty or not. With no easy way to prove the legality or illegality of your profits, simply owning a cash-heavy business could falsely incriminate you of money laundering.

Bank Capture

This occurs when the money launderers themselves own or run the financial institution. In this case, the money can move throughout the bank and is legally transferable to other banks. Because the money moves without investigation, this form of laundering can be difficult to catch. If, however, you own a financial institution that someone else uses to store their laundered funds, your entire bank could face investigation.

Casino Laundering

Cases

Gambling winnings are completely legal and typically received in cash. By purchasing chips with the dirty funds, gambling a small amount, and turning the total chips back in for cash, someone could theoretically claim all of the money as gambling winnings. As a result, banks are often suspicious of these winnings and may suspect you of money laundering.

Real Estate Laundering

Federal Money Laundering Cases

Another form of laundering is through real estate. Theoretically, someone could purchase a piece of real estate property with cash, and quickly sell it. Any profits made would be associated with the sale and are completely legal. Although a legitimate business tactic, the increased use of property flipping for money-laundering purposes can make the tactic seem suspicious.

Money Laundering Case Study

Our Las Vegas Criminal Defense Attorneys Can Help You

Money laundering is a federal crime that can result in hefty fines and long prison sentences. If you are facing these charges, you need legal counsel experienced in handling white-collar crimes. Contact The Draskovich Law Group, Chtd. Our Las Vegas criminal defense attorneys have handled more than 250 trial cases, and have more than 20 years of combined experience. We have achieved successful results in both state and federal courts, and have the knowledge and tools to defend you.

Schedule your free consultation and protect your future with The Draskovich Law Group, Chtd