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Supreme Court Decision Will Bog Down Money Laundering Cases
By Brian Monroe
printA recent U.S. Supreme Court decision could prevent some money laundering charges from being filed, delay current trials and bring a wave of appeals for just-closed cases, according to compliance professionals. In a 5-4 decision, the court held in United States v. Santos, et al. that a person who took commissions on the receipt of illegal bets for the purpose of running an illegal gambling ring did not violate federal money laundering statutes because of the meaning of the word proceeds in the federal code. The plurality opinion concluded that the word "proceeds" in the federal money laundering statute, 18...
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