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What is money laundering? SCOTUS to rule whether merely concealing cash is the same as laundering it

By Gritsforbreakfast

A Texas case before the US Supreme Court last week, Cuellar v. US, in which SCOTUS will determine what activities the government must prove to charge someone with "money laundering," had its oral arguments this week before the Wise 9. The feds would like the term to be broadly interpreted to include merely concealing money, but some of the Justices weren't so sure. Reported DRCNet:Cuellar was ... convicted of money laundering, but appealed, arguing that the simple act of concealing money did not constitute money laundering under the 1986 federal money laundering law. Under that law, it is a crime to take the profits from "some form of unlawful activity" out of the country while hiding or disguising its nature, location, source, ownership, or control...continue to full post

Full post as published by Grits for Breakfast on February 29, 2008 (boomark / email).