{"id":373869,"date":"2016-10-27T09:11:27","date_gmt":"2016-10-27T14:11:27","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-law\/state\/maryland-law\/maryland-money-laundering-laws.html"},"modified":"2018-03-10T04:07:47","modified_gmt":"2018-03-10T09:07:47","slug":"maryland-money-laundering-laws","status":"publish","type":"page","link":"https:\/\/www.findlaw.com\/state\/maryland-law\/maryland-money-laundering-laws.html","title":{"rendered":"Maryland Money Laundering Laws"},"content":{"rendered":"\n
\n \n
\n

Maryland Money Laundering Laws<\/h1>\n
\n
\n

Created by FindLaw’s team<\/a> of legal writers and editors<\/i><\/p>\n\n | Last updated\n

\n \n <\/i>\n Legally Reviewed\n <\/summary>\n\n
\n

This article has been written and reviewed for legal accuracy, clarity, and style by FindLaw\u2019s team of legal writers and attorneys<\/a> and in accordance with our editorial standards<\/a>.<\/em><\/p>\n\n <\/div>\n <\/details>\n\n

\n \n <\/i>\n Fact-Checked\n <\/summary>\n\n
\n

The last updated date refers to the last time this article was reviewed by FindLaw or one of our contributing authors<\/a>. We make every effort to keep our articles updated. For information regarding a specific legal issue affecting you, please contact an attorney in your area<\/a>.<\/em><\/p>\n\n <\/div>\n <\/details>\n<\/section>\n

Let\u2019s pretend for a moment that you run an illegal high-volume drug trafficking business<\/a> in Maryland. You frequently transport large amounts of opioids and marijuana from a remote part of the U.S. into Maryland. While you might literally be \u201crolling in the dough\u201d from the sales, you have to find a way to \u201ccleanse\u201d the proceeds. So, you think up a great scheme. Your brother\u2019s girlfriend works at a local bank and has always had a thing for you. Acting without thinking of the consequences, you comprise a scheme with her to convert the large dollar bills into a treasure trove of 10\u2019s, 20\u2019s and 50\u2019s. Much more manageable, right? Wrong. Your brother decides to turn into a confidential informant and rats you both out. What just happened? A serious case of money laundering<\/a>, that\u2019s what happened.<\/p>\n

To be clear, money laundering means any sort of financial transaction or attempt to conduct a transaction to conceal the source of funds that came from an illegal activity. It is important to note that most money laundering cases are prosecuted on a federal level because the actions cross state lines. For example, in 2011 a Maryland attorney pleaded guilty<\/a> to money laundering charges after advising clients on drug trafficking activities and helping to launder the proceeds. The lawyer was based in Maryland, but his activities spanned several states.<\/p>\n

Below you will find information on federal money laundering statutes, as well as related Maryland state crimes that a prosecutor may use to charge a person such fraud and other financial crimes<\/a>.<\/p>\n

Maryland Money Laundering Laws Overview<\/h2>\n

Although there are no statutes in Maryland that directly address money laundering, the following chart outlines other state and some federal laws that may be used in prosecuting this crime. Keep in mind, there may be several defenses<\/a> available to you for these charges.<\/p>\n\n

Statutes<\/b><\/p>\n<\/td>\n

Racketeering<\/a> (RICO) 18 U.S.C. Section 1962<\/a><\/p>\n

Money Laundering Control Act of 1986, 18 U.S. Code Section 1956<\/a><\/p>\n

Maryland Corporations and Associations Section 1-405<\/a> (Organized Crime)<\/p>\n

Maryland Fraud Laws, Maryland Criminal Code Title 8 et. seq<\/a><\/p>\n<\/td>\n<\/tr>

Penalties<\/b><\/p>\n<\/td>\n

Federal money laundering penalties include a maximum sentence of up to 20 years in prison, a fine up to $500,000, and\/or twice the value of the funds involved. If money is laundered in connection with terrorist activity, the maximum sentence can be as much as 35 years.<\/p>\n

The law also allows the government to garnish all proceeds<\/a> of any bank, savings and loan institution, credit union, investment fund, or retirement fund that participates in unlawful money laundering activities.<\/p>\n

Under the state organized crime law, the Attorney General may institute civil proceedings against a business entity to forfeit their charter if they are involved in a criminal enterprise involving money laundering.<\/p>\n

Under state fraud laws, a defendant can be charged with either a felony or misdemeanor, depending on the nature of the offense and will include a prison or jail sentence and a fine<\/p>\n<\/td>\n<\/tr>

Possible Related State Crimes (List Not Exhaustive) <\/b><\/p>\n<\/td>\n