Some Texas District Attorney’s Office’s are creative in how they prosecute those allegedly involved in dealings with money with illicit or illegal origins. The targets of their prosecutions have expanded with the advent of new Texas Money Services Act Laws. The act involves banking transactions. However, it is used by local proseecutors in situations where Money Laundering is difficult or impossible to prove. This is because the mens rea (mental state, or knowledge) requirement is missing. These new prosecutions target individuals that may have done nothing wrong. Call an attorney that can defend you against the charges!
Under the Texas Money Services Act, codified in Section 151.302 of the Texas Finance Code, A person may not engage in the business of money transmission…unless the person is licensed under this subchapter.
A Person engages in the business of money transmission…
if the person receives compensation or expects to receive compensation, directly or indirectly, for conducting money transmission.
Penalties
A Third Degree felony is punishable by 2 to 10 years in the institutional division of the Texas Department of Criminal Justice and a fine not to exceed $10,000.
Texas money services act cases require an attorney with an attention to detail. LeGrande Law utilizes dynamic tactics to defend your rights. Call today for a free consultation with an attorney!