Money Laundering California Penal Code 186.10
This law comes up whenever a person is in connection with drug trafficking crimes. They could also be prosecuted under Health and Safety code 11370.9. There are three elements that must be met to violate California Penal Code 186.10. They are 1) Transaction through a bank 2) Minimum amount of money is laundered (depending on the time period) 3) The person had specific intent to endorse this activity or had knowledge that the money came from this activity. There are three defenses pursuant to California penal Code 186.10
Transaction Through a Bank
The person must have attempted to fashion some type of transaction through a bank. The most common transaction include 1) A deposit 2) Withdrawing money 3) Wire Transfer 4) Changing money into another countries currency 5) Making a check
Minimum Amount of Money Laundered
The person must have participated in a transaction of 1) More than $5,000 in a 7 day period or 2) More than $25,000 within a 30 day period.
Intent to endorse the activity
Under this element the person either 1) Had intent to promote the activity or 2) Had knowledge that the money came from laundering.
The three defenses are
- 1) Lack of knowledge or Intent
- 2) The minimum amount of money needed depending on the time period was insufficient and
- 3) Police misconduct, which means searches without a warrant or lack of probable cause by an officer.
Penal Code 186.10 is known as a wobbler in California. Which means it could be tried as a misdemeanor or a felony. If it’s a misdemeanor then the person faces a maximum of one year in county jail and or a fine up to $1,000. If it’s considered to be a felony then the penalties are much harsher. The person faces jail time from 16 months to up to 3 years and a fine up to $250,000 or twice the amount of the money that was laundered.