United States v. Santos [electronic resource] : "Proceeds" in Federal Criminal Money Laundering Statute, 18 U.S.C. Section 1956, Means "Profits," Not "Gross Receipts".

Corporate Author: Library of Congress. Congressional Research Service
Published: [Place of publication not identified] : [publisher not identified], 2009.
Physical Description: 9 pages : digital, PDF file

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Summary

Examines U.S. v. Santos concerning a challenge to the conviction of the operator of an illegal lottery and one of his collectors, for violating a provision of 18 U.S.C. section 1956, a key Federal criminal anti-money laundering statute. Summarizes Supreme Court ruling that "proceeds" in 18 U.S.C. section 1956, refers to "profits," not "gross receipts;" and considers impact of the ruling upon sustainability of certain convictions involving contraband and organized crime offenses. Outlines S. 386, the Fraud Enforcement and Recovery Act of 2009, to enhance Federal enforcement capabilities to counteract fraud and to amend definition of "proceeds" in 18 U.S.C. section 1956.

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ProQuest U.S. Congressional Research Digital Collection

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Record is based on bibliographic data in ProQuest U.S. Congressional Research Digital Collection (last viewed Dec. 2010). Reuse except for individual research requires license from ProQuest, LLC.
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