Section 2: Money laundering; penalties

264 words·~1 min read·/ma/part-iv/title-i/chapter-267a/2

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Section 2. Whoever knowingly:

(1)transports or possesses a monetary instrument or other property that was derived from criminal activity with the intent to promote, carry on or facilitate criminal activity;

(2)engages in a transaction involving a monetary instrument or other property known to be derived from criminal activity:

(i)with the intent to promote, carry on or facilitate criminal activity; or

(ii)knowing that the transaction is designed in whole or in part either to:

(A)conceal or disguise the nature, location, source, ownership or control of the property derived from criminal activity; or

(B)avoid a transaction reporting requirement of this chapter, of the United States, or of any other state; or

(3)directs, organizes, finances, plans, manages, supervises or controls the transportation of, or transactions in, monetary instruments or other property known to be derived from criminal activity or which a reasonable person would believe to be derived from criminal activity shall be guilty of the crime of money laundering and shall be punished by imprisonment in the state prison for not more than 6 years or by a fine of not more than $250,000 or twice the value of the property transacted, whichever is greater, or by both such imprisonment and fine. Whoever commits a second or subsequent such offense shall be punished by imprisonment in the state prison for not less than 2 years, but not more than 8 years or by a fine of not more than $500,000 or 3 times the value of the property transacted, whichever is greater, or by both such imprisonment and fine.