In a recent article, this blog highlighted the story of several local Portland residents who were arrested on various drug charges. In addition to the drug charges, the men faced charges for money laundering and illegal gambling. According to reports, the individuals had been using a local café to launder money obtained through a gambling ring and from distributing marijuana across the United States. After reading this story, many people may wonder -- what constitutes money laundering?
Under ORS section 164.170, money laundering is a Class B felony in Oregon. According to this statute, many different scenarios can lead to money laundering charges. However, generally money laundering includes obtaining money from an unlawful activity but making it appear as if it was obtained through legal means. In many cases, money laundering is meant to disguise the true ownership, location, source or nature of the money.
In order to be convicted of money laundering must carry out a financial transaction or transport money that the person knows has been obtained through some sort of unlawful activity. However, the person does not need to know which unlawful activity the money has been obtained through. This transaction or transportation must be done to conceal the nature of the money, to further the unlawful activity or to avoid reporting the money to federal authorities.
This section applies to any monetary instrument. This can include money orders, gold and other precious metals, travelers' checks, United States' currency, foreign bank notes, investment securities and others.
When accused of money laundering, people must seek legal advice -- which this blog post cannot provide. An attorney can help people better understand the charges and any defense options.
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