Hiding Money from the Government

Dec 1, 2008

The practice of laundering money is relatively widespread, and while considered to be illegal, those charged with this offense are entitled to a skilled defense.

Innocent until proven guilty is the usual call of the U.S. justice system. And when it comes to a person charged with money laundering, found innocent with the help of a highly skilled criminal defense lawyer is even better. Dan Wannamaker of Wannamaker Law in Houston, Texas, knows better than any attorney how to defend those accused of this type of crime.

There are so many methods of hiding money from the government they have pretty much lost count of the number. It seems more and more ways to launder funds crop up on a daily basis. There are, however, some tried, tested and true methods that seem to be the most popular.

Smurfing would win an award as being slightly easier than the black market peso exchange. Smurfing is also referred to as structuring deposits and involves breaking up larger amounts of money into smaller bundles. In the U.S., the amount has to be under $10,000. Anything over this will trigger the banks to report the deposit to the government.

The term smurf refers to the people who deposit this money into various banks or just the one person who does deposits over a number of days. If a smurf is caught and charged, their best plan of action is to hire a board certified criminal law specialist such as Dan Wannamaker of Wannamaker Law in Dallas.

Wannamaker also prepares defenses for those charged with laundering money through offshore accounts. Basically an off shore account is in a country that allows anonymous banking and the transactions are large, rapid and complex.The most popular countries to stash illegal bucks are Singapore, Panama, Antilles, Hong Kong, the Cayman Islands, Bahamas and Bahrain.

Other methods of laundering money that Wannamaker Law has mounted a defense for include people allegedly charged with running illegal money through alternative (but legal) banking systems that are OK with undocumented deposits, transfers and withdrawals. Often these trust-based banking systems are in Pakistan and China.

Dan Wannamaker is a highly skilled criminal defense lawyer. If you are in need of a criminal defense lawyer, contact one who is board certified to protect your legal interests with tenacity and drive – Wannamaker Law in Houston.

To learn more, visit https://www.wannamakerlaw.com.

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