Authorities historically have used money laundering charges to target those involved in drug trafficking, organized crime or terrorism. However, professionals, public figures and other wealthy and influential people in the Houston area can also face these charges.
Both Texas and the federal government have strict laws against money laundering. In Texas, money laundering is a felony if the amount involved is at least $2,500.
Under federal law, a person may face a fine of $500,000 or double the amount of the money laundered. The person may also face a federal prison sentence of up to 20 years.
Both the state and federal money laundering laws cast a wide net. Importantly, someone does not have to be involved in the underlying criminal activity to face a money laundering investigation.
If in the eyes of the authorities a person has in any way helped someone cover up that their money is coming from illegal activities, that person may face a money laundering charge.
High-profile citizens accused of crimes need to know their options
Any person accused of a felony should make sure they understand their rights and options in their criminal cases. In addition to fines and a substantial prison term, a person convicted of a white-collar offense like money laundering may have to pay restitution, forfeit money or property and may be placed on probation.
Moreover, public figures, professionals and other high-profile residents of the Houston area will want to tread especially carefully, even if they become aware that authorities are seriously contemplating criminal charges. These people may face serious social even if they manage to avoid jail time.
A criminal conviction can also derail an aspiring professional’s career and could also attract negative media attention that could hurt that person’s business. Frequently, professionals rely on a good reputation to generate income.
Professionals like attorneys and doctors could lose their ability to practice their profession in Texas, even if the charges do not directly involve the treatment of their clients.