West Virginia Code 61-15-2 – Laundering through financial transactions
(a) It is unlawful for any person to conduct or attempt to conduct a financial transaction involving the proceeds of criminal activity knowing that the property involved in the financial transaction represents the proceeds of, or is derived directly or indirectly from the proceeds of, criminal activity:
Terms Used In West Virginia Code 61-15-2
- Conviction: A judgement of guilt against a criminal defendant.
- Criminal activity: means a violation of:
(A) The felony provisions of section eleven, article forty-one, chapter . See West Virginia Code 61-15-1
- Financial transaction: means a transaction which effects intrastate, interstate or foreign commerce, and:
(A) Involves the movement of funds by wire or other means. See West Virginia Code 61-15-1
- Knowing: means actual knowledge. See West Virginia Code 61-15-1
- Proceeds: means property or monetary instrument acquired or derived, directly or indirectly, from, produced through, realized through, or caused by an act or omission and includes property, real or personal, of any kind. See West Virginia Code 61-15-1
- Property: means anything of value, and includes any interest therein, including any benefit, . See West Virginia Code 61-15-1
- State: when applied to a part of the United States and not restricted by the context, includes the District of Columbia and the several territories, and the words "United States" also include the said district and territories. See West Virginia Code 2-2-10
- transaction: includes a deposit, withdrawal, transfer between accounts, exchange of currency, loan, extension of credit, purchase or sale of any stock, bond, certificate of deposit, or other monetary instrument, use of a safety deposit box, or any other payment, transfer, or delivery by, through or to a financial institution, by whatever means effected. See West Virginia Code 61-15-1
(1) With the intent to promote the carrying on of the criminal activity; or
(2) Knowing that the transaction is designed in whole or part:
(i) To conceal or disguise the nature, location, source, ownership, or control of the proceeds of the criminal activity; or
(ii) To avoid any transaction reporting requirement imposed by law.
(b) Any person violating the provisions of subsection (a) of this section where the amount involved in the transaction is less than $1,000 is guilty of a misdemeanor and, upon conviction, shall be confined in jail for not more than one year or fined not more than $1,000, or both confined and fined.
(c) Any person violating the provisions of subsection (a) of this section where the amount involved in the transaction is not less than $1,000 nor more than $20,000 is guilty of a felony and, upon conviction, shall be imprisoned in a state correctional facility for not less than one nor more than five years, or fined not less than $1,000 nor more than $10,000, or both imprisoned and fined.
(d) Any person violating the provisions of subsection (a) of this section where the amount involved in the transaction in excess of $20,000 is guilty of a felony and, upon conviction, shall be imprisoned in a state correctional facility for not less than two nor more than ten years, or fined not less than $5,000 nor more than $25,000, or both imprisoned and fined.