In Texas, a person can be accused of money laundering if they knowingly used or acquired proceeds through criminal activity like drug trafficking or mortgage fraud. For example, a person can be charged with this offense if he or she uses the proceeds of drug sales, for instance, to further expand the illegal activity. An individual who conceals funds acquired through criminal activity could also be charged with money laundering.
The severity of the penalties for those accused of money laundering depends upon the alleged value of the funds used to further criminal activity. For example, a value between $1,500 and $20,000 is considered a state law felony. If the value of the alleged funds is between $20,000 and $100,000, the accused person may face a third-degree felony charge.
If the value of the funds is less than $200,000 but more than $100,000, the accused person could potentially face a second-degree felony charge. Finally, someone accused of being in possession of more than $200,000 in funds could be charged with a first-degree felony.
Since each case is unique, someone charged with money laundering or fraud might want to seek the advice from a criminal defense attorney. In some situations, those alleged of committing this type of offense could have their property and bank accounts forfeited to authorities. Depending upon the circumstances of the accused person’s case, the attorney may have a defense strategy that could result in an acquittal or a reduction in the severity of the potential sentence.
Source: Texas Constitution and Statutes, “Sec. 34.02. MONEY LAUNDERING.”, November 12, 2014