What are the potential consequences for money laundering?

All activities that involve coercive means to extort or exact or procure financial resources or a form of capital can typically be brought under the term Extortion. Like a lot of other States in the US, Virginia maintains strict measures against the crime itself. Virginia code can be generalized to include offenses in which an actor forces the victim to forgo their money or any other property by unlawful or coercive means; this includes the threat of violence, damage to property, or inflicting financial hardships, or any other related offense such as reputation damage or slander.

Extortion is very near in meaning to and is a form of theft. This is due to the fact that the perpetrator of this crime procures property from another person with the usage of illegal or unlawful means. Extortion also shares a few qualities with robbery as threats are involved, including the threat of death.

Understanding Virginia Money Laundering Laws

In terms of the law, Virginia’s legal code defines the term extortion in Section 18 of Virginia Code. It broadly defines extortion in terms of its elements and details penalties.

Within this legal statute, an individual is liable to be charged with extortion for one or more of the following reasons:

  • Threatening bodily harm or injury to another person, their property or their character
  • Falsely accusing another person of an offense
  • Threatening to tell on someone or to report them to the law on their immigration status
  • Stealing, concealing or threatening to destroy someone else’s immigration documents with intent

Within the context of Virginia’s Code, the types of property that can be extorted can include the following:

  • Money or Hard Capital
  • Real Estate, or Personal Property
  • Evidence of Debt or collection
  • Any other financial benefits

Some penalties associated with the crime of extortion in Virginia are:

  • As a class five felony, the Virginia Law can either prosecute it as a misdemeanor or something that is more severe. This, of course, depends on the context and the details of the crime
  • Class five felonies are punishable by a term of up to ten years of prison time, and the minimum time to serve is one year without bail.

What are the potential consequences for money laundering?

Potential jail time and fines are in danger with any type of money laundering at any measure of money being laundered. On the off chance that discovered liable of laundering money in a government court, you can get up to 20 long periods of jail time. Be that as it may, the seriousness of the charges and how much money was laundered influence what charge is being given.

  • A measure of $1,500.00 to beneath $20,000.00 is thought to be a felony under state law.
  • A measure of $20,000.00 to underneath $100,000.00 is thought to be a third-degree
  • A measure of $100,000.00 to underneath $200,000.00 is thought to be a second-degree
  • A measure of $200,000.00 and higher is thought to be a first-degree

An incredible case of how a money laundering plan can wind up is the narrative of Jordan Belfort. Belfort composed The Wolf of Wall Street, a genuine record of what he did and how he wound up serving time for money laundering and fraud. A film was as of late delivered and discharged, based off of his book.