750.411p Financial transaction involving proceeds of criminal offense; representation by law enforcement officer; felony; penalty; threshold amount.

400 words·~2 min read·/mi/chapter-750/750-411p

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

Sec. 411p.

(1)A person who conducts, attempts to conduct, or participates in conducting or attempting to conduct a financial transaction involving a monetary instrument or other property that a law enforcement officer represents to be the proceeds or substituted proceeds of a specified criminal offense is guilty of a felony, punishable as provided in subsection (2), if that person conducts, attempts to conduct, or participates in conducting or attempting to conduct the financial transaction with the intent to do 1 or more of the following:

(a)Promote the commission of a criminal offense.

(b)Conceal or disguise the nature, location, source, ownership, or control of a monetary instrument or other property believed to be the proceeds or substituted proceeds of a specified criminal offense or avoid a transaction reporting requirement under state or federal law.

(2)A person who violates subsection

(1)is guilty of a felony punishable as follows:

(a)If the monetary instrument or other property involved in the transaction is represented to be the proceeds or substituted proceeds of a controlled substance offense and has a value of $10,000.00 or more, by imprisonment for not more than 20 years or a fine of not more than $500,000.00, or both.

(b)If the monetary instrument or other property involved in the transaction is represented to be the proceeds or substituted proceeds of a controlled substance offense or has a value of $10,000.00 or more, by imprisonment for not more than 10 years or a fine of not more than $100,000.00, or both.

(c)In all cases not described in subdivision

(a)or (b), by imprisonment for not more than 5 years or a fine of not more than $50,000.00, or both.

(3)For purposes of this section, a representation of a monetary instrument or other property as the proceeds or substituted proceeds of a specified criminal offense may be made by a person at the direction of, or with the approval of, a law enforcement official authorized to investigate or prosecute violations of this section.

(4)For purposes of this section, the $10,000.00 threshold for the value of the monetary instrument or other property represented to be proceeds or substituted proceeds may be aggregated over a period of 30 calendar days.

History: Add. 1994, Act 284, Eff. Oct. 1, 1994