SPELLMAN LAW, P.C.
Based In West Des Moines, Iowa, Practicing In Central
Iowa And Throughout The State Of Iowa

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What you need to know about money laundering in Iowa

On Behalf of | Sep 8, 2022 | Criminal Defense, Federal Crimes |

Money laundering is a crime that often conjures up thoughts of the Mafia. However, any Iowa resident can face these types of charges.

Understanding money laundering

Money laundering is a crime that is committed through illegal activity with the purpose of gaining large amounts of money. It’s often difficult to distinguish because money appears to come from a legitimate source. However, the term “laundering” represents the “dirty” way in which the money is earned to make it appear “clean.”

Someone can face charges if they knowingly transport, acquire or receive property or conduct transactions involving property knowing that any proceeds they gain as a result involve some type of illegal activity.

It is also considered money laundering if a person makes property available to someone else through transportation, transaction or other means while knowing that the property will be used for illegal activity.

Typically, when a property is used in a money laundering scheme, the true intent of the activity is disguised to appear as a legitimate, legal business.

Potential penalties for money laundering

Money laundering is a federal crime that is classified as a felony, and it is also a state crime as well. As a result, anyone who faces charges is often subject to harsh penalties. . Depending on the severity of the crime and the value of the property involved, a person could be charged with a class C felony and receive up to 10 years in prison or a fine of up to $13,660 or both.

A class D felony involves a prison term of up to five years or a fine of up to $10,245 or both. A person can be charged based on the value of the property involved in the crime.

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Sean P. Spellman
Mary K. “Molly” Spellman