Money laundering in New York is the act of taking illegally obtained funds and converting it to legal or usable money. Money laundering requires the defendant to know what they were doing and that the funds came from illegal activity and that the benefit was for another illegal activity. Money laundering also has to require a transaction or attempted transaction to occur. Two businessmen accused of money laundering billions of dollars have been especially generous to New York charities.
Billions of dollars reportedly laundered from Ukrainian bank
More than $11 million has been donated to nearly 70 yeshivas and religious charities in Brooklyn and across the state of New York by two businessmen who have been accused of money laundering. The two businessmen, based out of Miami, have allegedly been the middlemen for a Ukrainian billionaire. The billionaire is accused of funneling billions from a Ukrainian bank by taking out fraudulent loans and lines of credit. They then funneled the cash through a web of entities created by the two Miami businessmen who purchased property and businesses in the U.S. with it. There are three civil lawsuits filed by the U.S. Department of Justice in Florida and the U.S. Secretary of State has banned the Ukrainian from the U.S. If the federal lawsuits succeed, millions of dollars’ worth of real estate may have to be forfeited. In addition, the charities who received the money may be forced to return it.
White collar attorney
An attorney who specializes in white collar crime can help their client who is facing money laundering charges. They have specific strategies that they can use to fight these charges and minimize the impact to their client. They have experience defending and protecting the rights of their client in both New York and federal courts and can help guide their client through the prosecutorial process.