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new york penal law 470 15 money laundering in the second degree

Understanding Money Laundering Charges Under NY Penal Law 470.15

Money laundering accusations can have severe criminal penalties in New York. Being charged under NY Penal Law 470.15 for money laundering in the second degree is a Class C felony. Let’s break down this statute, potential sentences, and legal defenses.

What is Money Laundering in the Second Degree?

Under NY Penal Law Article 470, a person commits money laundering in the second degree when they conduct financial transactions knowing the money involved represents the proceeds of criminal activity, and:

  • The value exceeds $50,000
  • The transactions were part of a scheme to generate over $50,000 from criminal activity

For example, someone who knows money was obtained illegally through drug trafficking and then deposits it in a bank account could face second degree money laundering charges if over $50,000 is involved.

Penalties for Money Laundering in the Second Degree

Since money laundering in the second degree is a Class C felony, potential sentences if convicted include:

  • 5 to 15 years in state prison
  • Up to $15,000 in fines
  • Asset forfeiture
  • 5 years post-release supervision

Higher charges and penalties apply if over $1 million is involved or for money laundering related to terrorism.

Defending Against Money Laundering Accusations

Some possible defenses against NY money laundering charges include:

  • You did not know the money came from illegal activity
  • The money did not exceed $50,000
  • You did not conduct any financial transactions with the money
  • The money was obtained legally
  • You were under duress or coercion

An experienced white collar crimes lawyer can evaluate the evidence and build the strongest defense strategy for your case.

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Christine Twomey
2024-03-21
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2024-03-18
Alex Zhik contacted me almost immediately when I reached out to Spodek for a consultation and was able to effectively communicate the path forward/consequences of my legal issue. I immediately agreed to hire Alex for his services and did not regret my choice. He was able to cover my case in court (with 1 day notice) and not only was he able to push my case down, he carefully negotiated a dismissal of the charge altogether. I highly recommend Spodek, and more specifically, Alex Zhik for all of your legal issues. Thanks guys!
Guerline Menard
Guerline Menard
2024-03-18
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2024-03-15
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2024-03-15
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2024-03-12
Hey, how you guys doing? Good afternoon my name is Anthony Williams I just want to give a great shout out to the team of. Spodek law group. It is such a honor to use them and to use their assistance through this whole case from start to finish. They did everything that they said they was gonna do and if it ever comes down to it, if I ever have to use them again, hands-down they will be the first law office at the top of my list, thank you guys so much. It was a pleasure having you guys by my side so if you guys ever need them, do not hesitate to pick up the phone and give them a call.
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2024-02-24
I can't recommend Alex Zhik and Spodek Law Firm highly enough for their exceptional legal representation and personal mentorship. From the moment I engaged their services in October 2022, Alex took the time to understand my case thoroughly and provided guidance every step of the way. Alex's dedication to my case went above and beyond my expectations. His expertise, attention to detail, and commitment to achieving the best possible outcome were evident throughout the entire process. He took the time to mentor me, ensuring I understood the legal complexities involved to make informed decisions. Alex is the kind of guy you would want to have a beer with and has made a meaningful impact on me. I also want to acknowledge Todd Spodek, the leader of the firm, who played a crucial role in my case. His leadership and support bolstered the efforts of Alex, and his involvement highlighted the firm's commitment to excellence. Thanks to Alex Zhik and Todd Spodek, I achieved the outcome I desired, and I am incredibly grateful for their professionalism, expertise, and genuine care. If you're in need of legal representation, look no further than this outstanding team.
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Steps if Charged with Money Laundering

If facing accusations of money laundering in New York, key steps to take include:

  1. Decline to answer any questions until you have legal counsel
  2. Hire an experienced NY money laundering defense lawyer right away
  3. Follow your lawyer’s instructions about responding to investigators or making statements
  4. Work closely with your lawyer to construct your defense
  5. Have your lawyer preserve financial records and other evidence
  6. Attend all required court appearances until your case resolution
  7. Avoid any legal issues while out on bail that could impact your case

Choosing the Right Lawyer for Your Case

When facing money laundering charges, key traits to seek in a lawyer include:

  • Extensive experience defending NY money laundering cases
  • Successful track record getting charges reduced or dismissed pre-trial
  • Knowledge of federal money laundering laws as well
  • Resources to build a strong defense and take your case to trial
  • Ability to negotiate firmly with prosecutors
  • Responsive communication and excellent client support

Don’t leave your future up to chance. An experienced NY money laundering defense lawyer can protect your rights, freedom, and reputation.

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