Critics Say Lungren Bill Goes Too Far in Reversing Supreme Court Rulings

By Matt Squire

A Congressional bill that would overturn two 2008 U.S. Supreme Court decisions that narrowed the definition of money laundering goes too far in expanding the meaning of concealment, say consultants. On June 2, the Supreme Court ruled in Regalado Cuellar v. United States that concealment of money alone does not constitute money laundering. The court also ruled in United States v. Efrain Santos that laundering laws could only be applied to the net profits of a crime, and not the gross receipts of a criminal operation. On Monday, Rep. Dan Lungren, a California Republican, introduced a bill that would effectively...