What is money laundering? And how does it differ from embezzlement? These are just a few of the questions that might arise when someone is under criminal investigation. This can be a confusing and stressful time, but the Law Office of Eric Harron is here to help make the process easier to understand. Read on to learn the difference between embezzlement and money laundering, and learn how a criminal defense lawyer could help you.
What Does Embezzlement Mean?
Otherwise known as employee theft, embezzlement* is characterized by the taking of funds that are owned by someone else. This usually happens when employees are given access to business funds, but it can happen in other circumstances as well. So what does embezzlement mean? In short, this is a type of criminal or civil fraud that occurs when a responsible party steals funds or assets from the rightful owner.
What is Money Laundering?
Money laundering is a general term applied to any scheme where criminals disguise the true source of their illegal financial gain. For example, if money is earned through illegal activity like drug dealing or another illegal business, a criminal might try to run the money through other legal businesses before depositing it in the bank. This will decrease suspicion about where the money came from.
Consult a Fraud Attorney Today
If you need access to an expert fraud attorney in the Austin, Texas, area, the Law Office of Eric Harron can help. The Law Office Eric Harron is familiar with the intricacies of money laundering, embezzlement, identity theft, and any other type of criminal or consumer fraud. Contact us today to get help and learn more from a fraud attorney.
*In the state of Texas, all of these types of crimes are charged as theft. Not a separate crime styled embezzlement.