22 ms·
Sounds like he also tried to launder the profits of the fraud. If you set up a bunch of different bank accounts registered to different names or LLCs to collect
by Cheer2171 2y ago
Sounds like he also tried to launder the profits of the fraud. If you set up a bunch of different bank accounts registered to different names or LLCs to collect all the profits of an illegal scheme so it doesn't look like a huge amount of money in each account, that's an additional money laundering charge versus if you put all the profits from a scheme in the same bank account.
- josho 2y agoWhat you described is exactly what real estate folks do. They put each property they own under a separate LLC. There are legitimate reasons to use different bank accounts and legal entities to conduct business. So the defendant needs to show that they had legitimate reasons for different accounts.