U.S. Supreme Court to Review Ruling That Limits Money Laundering Cases

By Matt Squire

The U.S. Supreme Court agreed Monday to review a decision that could limit the cases prosecutors can pursue for money laundering. The Justice Department filed a petition in January requesting that the court overturn an appellate court's ruling that only the net proceeds of illicit activities are subject to money laundering prosecution. The main federal statute for money laundering makes it a crime to engage in a transaction using the proceeds of unlawful activity with the intent to conceal the source. The 7th U.S. Circuit Court of Appeals affirmed in U.S. v. Santos and Diaz last October that the term...