Penalties for Money Laundering Convictions in Texas

 Posted on October 04, 2023 in Uncategorized

Money laundering is a serious financial crime that can lead to harsh criminal penalties if convicted. Understanding the potential sanctions under Texas statutes can underscore the substantial legal risks. You should also know you have a legal right to work with a Texas lawyer to help you through your case.

How Texas Law Defines Money Laundering

Texas’ penal code Chapter 34 outlines the state’s money laundering laws. Charges can be brought in Texas for the following:

• Knowingly concealing;
• Acquiring;
• Maintaining an interest in;
• Receiving;
• Transporting;
• Transmitting;
• Transferring funds that were obtained through criminal means. 

Penalties for Money Laundering Depend on the Amount

In Texas, the criminal penalties for a money laundering conviction vary depending on the monetary value of the illegally laundered funds. Prosecutors aggregate the total proceeds in a single scheme or course of conduct when determining the charge classification.

For amounts less than $2,500, money laundering falls under a Class C misdemeanor, with up to a $500 fine. From $2,500 up to $30,000, it becomes a state jail felony carrying potential penalties of 180 days to 2 years in jail plus fines up to $10,000.

Money laundering from $30,000 to $150,000 is a third-degree felony under Texas law. This brings 2 to 10 years imprisonment and fines up to $10,000. For illegally laundered proceeds between $150,000 and $300,000, the charge rises to a second-degree felony with 2 to 20 years in prison possible and up to $10,000 in fines again.

For very large-scale money laundering of $300,000 or greater, first-degree felony sanctions apply. This includes 5 to 99 years jail time and fines up to $10,000. Penalties rapidly increase for sophisticated operations, large sums, or repeat offenders.

Overlap with Federal Statutes

Money laundering activities crossing state lines or involving over $10,000 may constitute federal offenses in addition to violating Texas law. Federal money laundering statutes under US Code Title 18 can bring further civil and criminal consequences. Texas statutes closely align with the federal prohibitions and definitions around money laundering. Collaborative prosecution between state and federal authorities is common with multi-jurisdictional financial crimes.

Contact a Dallas, TX Money Laundering Attorney

It is important to work with a Dallas, TX money laundering lawyer immediately if questioned regarding suspicious financial activities or transactions that could potentially involve money laundering. They can help you secure the legal guidance you need and deserve. Call Spencer & Associates at 214-385-8500 for a free consultation.