(a) A person is guilty of money laundering in the first degree when he exchanges or receives in exchange, in one or more transactions, one or more monetary instruments derived from criminal conduct constituting a felony and of a total value exceeding ten thousand dollars, for one or more other monetary instruments or equivalent property, with the intent to conceal that the exchanged monetary instrument or instruments or equivalent property is derived in whole or in part from the criminal sale of a controlled substance or with the intent that the exchange aid a person in the criminal sale of a controlled substance or to profit or benefit from the criminal sale of a controlled substance.

Attorney's Note

Under the Connecticut General Statutes, punishments for crimes depend on the classification. In the case of this section:
ClassPrisonFine
Class B felonyup to 20 yearsup to $15,000
For details, see Conn. Gen. Stat.53a-35a
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Terms Used In Connecticut General Statutes 53a-276

  • Person: means a human being, and, where appropriate, a public or private corporation, a limited liability company, an unincorporated association, a partnership, a government or a governmental instrumentality. See Connecticut General Statutes 53a-3

(b) Money laundering in the first degree is a class B felony.