Minnesota Money Laundering Laws

The offense of money laundering refers to the process of hiding an illegal source of funds and making it appear that the money comes from legitimate means. For example, a drug dealer uses a nail salon business as a "front" for a money laundering scheme. The dealer "cleans" the money that he made from drug sales by certain transactions to make it look like it came from the salon.

Although it's considered a white-collar crime and doesn't involve violence, money laundering is a very serious offense. If a defendant's purported money laundering activities cross state lines, they can be charged with violating federal statutes. A conviction can result in fines up to $500,000 or double the amount of money laundered, whichever is greater. Imprisonment of up to 20 years is also a possibility.

Additionally, many states have money laundering statutes. Minnesota is one of the states with money laundering laws in effect and a conviction can result in major consequences including costly fines and incarceration.

A Summary of Minnesota Money Laundering Laws

A critical part of conducting legal research is reading the relevant statutes in their entirety to ensure full comprehension of the law. One way to make it easier to cut through the legal jargon is to refer to a condensed explanation of the content. See the chart below for a plain language summary of money laundering laws in Minnesota.

Statute

Minnesota Statutes Section 609.497

Elements of the Crime

 

 

A felony is committed when a person knowingly:

  • Initiates/organizes/plans/finances, directs/manages/supervises, or otherwise engages in a business; and
  • The business has a primary or secondary purpose of concealing money or property that was gained as a direct result of a felony (including controlled substance offenses) or as a result of an offense committed in another jurisdiction that would be a felony under Minnesota law.

Possible Penalties

The actual penalties for money laundering are based on the specific circumstances of the case, but an individual could be sentenced to imprisonment for up to 20 years and/or face fines up to $1,000,000.

Related Offenses

Minnesota Statutes:

  • Section 152.021 (Controlled substance crime in the first degree)
  • Section 609.903 (Racketeering)
  • Section 609.322 (Solicitation; inducement, and promotion of prostitution; sex trafficking)

Note: State laws are always subject to change through the passage of new legislation, rulings in the higher courts (including federal decisions), ballot initiatives, and other means. While we strive to provide the most current information available, please consult an attorney or conduct your own legal research to verify the state law(s) you are researching.

Minnesota Money Laundering Laws: Related Resources

Discuss Your Minnesota Money Laundering Case with an Attorney

If you're accused of violating Minnesota's money laundering laws, you're probably also facing additional charges involving insurance fraud or wire fraud. It may seem like the deck is stacked against you, but remember that it's the prosecution that has the burden to prove every element beyond a reasonable doubt. Whenever you're facing charges, it's important to consult with an experienced Minnesota attorney who can confidentially evaluate all of the evidence in your case and determine your best legal strategy.

Next Steps: Search for a Local Attorney

Contact a qualified attorney.