Michigan Laws 750.411o – First-degree money laundering
Current as of: 2023 | Check for updates
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(1) A person who violates section 411k is guilty of first-degree money laundering if the violation involves all of the following circumstances:
(a) The value of the proceeds or substituted proceeds of the specified criminal offense involved in the violation is $10,000.00 or more.
For details, see Mich. Comp. Laws ch. 777 pt. 2
Attorney's Note
Under the Michigan Laws, punishments for crimes depend on the classification. In the case of this section:| Class | Prison | Fine |
|---|---|---|
| B | up to 20 years |
Terms Used In Michigan Laws 750.411o
- felony: when used in this act, shall be construed to mean an offense for which the offender, on conviction may be punished by death, or by imprisonment in state prison. See Michigan Laws 750.7
- person: may extend and be applied to bodies politic and corporate, as well as to individuals. See Michigan Laws 8.3l
- state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o
(b) The specified criminal offense involved in the violation is a controlled substance offense, or an attempt, solicitation, or conspiracy to commit a controlled substance offense.
(c) The violation is committed with the intent to do 1 or more of the following:
(i) Promote the commission of the criminal offense from which the proceeds or substituted proceeds were derived or any other criminal offense.
(ii) Conceal or disguise the nature, location, source, ownership, or control of the proceeds or substituted proceeds of the specified criminal offense or avoid a transaction reporting requirement under state or federal law.
(2) First-degree money laundering is a felony punishable by imprisonment for not more than 20 years, or by a fine of not more than $500,000.00 or twice the value of the proceeds or substituted proceeds of the specified criminal offense involved in the violation, whichever is greater, or both.
(3) For purposes of this section, the $10,000.00 threshold for the value of the proceeds or substituted proceeds of a specified criminal offense may be aggregated over a period of 30 calendar days.