The criminal offense of Money Laundering constitutes the crime of camouflaging or disguising illegally obtained sources of funds or proceeds so that they appear to have been derived from a legal sources. Money Laundering is often used to avoid paying taxes on income earned, or constitutes the proceeds of other illegal activity. The techniques by which money can be considered to be laundered may vary and can range in cleverness and sophistication.
If you have over $10,000 in cash there are certain governmental forms that you may be required to filled out and file with your bank or the IRS. . To avoid this $10,000 threshold reporting requirement, individuals may deposit smaller increments of cash into different banks at different times. This procedure is commonly known as “Structuring,” and is a federal offense. As a federal criminal defense attorney experienced in Money Laundering cases, Stanley Marks has handled Structuring cases and other money related avoidance reporting offenses in several federal jurisdictions in the United States.
Structuring has made a huge impact on legal Medical Marijuana growers and dispensaries in Colorado. While dispensaries may be legally operated under Colorado State law, it remains illegal under federal law. In response to the fact that this remains a federal violation of law, the vast majority of banks in Colorado refuse to allow dispensaries to open bank accounts at their facilities. The result is that dispensaries often accumulate case in excess of $10,000, and are therefore subject to significant scrutiny by the IRS and other government agencies under structuring laws.
As a Medical Marijuana Dispensary Attorney, Stanley Marks has defended owners and operators of dispensaries who have been accused of Money Laundering and Structuring. and has been able to use and utilize forensic accountants and other experts to assist in tracing the origin of funds or otherwise raising defenses that have assisted in reaching acceptable resolution of these type of cases.
Money laundering is a serious offense that is pursued aggressively at both the state and federal levels. Mr. Marks has handled cases of this nature in conjunction with cases involving securities, bank, mortgage and other forms of fraud and drug related offenses.