Proposals to Reform the Federal Money Laundering Statutes
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conducts or attempts to conduct a financial transaction involving property represented to be the proceeds of specified unlawful activity, or property used to conduct or facilitate specified unlawful activity, shall be fined under this title or imprisoned for not more than 20 years, or both. For purposes of this paragraph and paragraph (2), the term "represented" means any representation made by a law enforcement officer or by another person at the direction of, or with the approval of, a Federal official authorized to investigate or prosecute violations of this section.
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(8) the term “ to conceal the nature, the location, the source, the ownership, or the control of the proceeds of specified unlawful activity for the purpose of creating the appearance of legitimate wealth ” means the taking of affirmative actions with the intent of legitimizing the proceeds of specified unlawful activity so that it appears to third parties that the proceeds are derived from legal sources.
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