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

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On June 2, 2008, the U.S. Supreme Court, in United States v. Santos (No. 96-1005), vacated convictions of the operator of an illegal lottery and one of his runners who had been charged with conducting financial transactions involving the "proceeds" of an illegal lottery and one of his runners who had been charged with conducting financial transactions involving the "proceeds" of an illegal gaming business. The ruling is that "proceeds," as used in this money laundering statute, means "profits" rather than "gross receipts" of the underlying unlawful activity. This report analyzes this decision, the factors contributing to the decision, the principles upon which the decision was based, and the possible future effects of the ruling.

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Creation Date: June 13, 2008
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UNT Libraries Government Documents Department
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Congressional Research Service Reports
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Place of Publication: Washington, D.C.
Date(s):
  • Creation: June 13, 2008
  • : August 1, 2008
Description:

On June 2, 2008, the U.S. Supreme Court, in United States v. Santos (No. 96-1005), vacated convictions of the operator of an illegal lottery and one of his runners who had been charged with conducting financial transactions involving the "proceeds" of an illegal lottery and one of his runners who had been charged with conducting financial transactions involving the "proceeds" of an illegal gaming business. The ruling is that "proceeds," as used in this money laundering statute, means "profits" rather than "gross receipts" of the underlying unlawful activity. This report analyzes this decision, the factors contributing to the decision, the principles upon which the decision was based, and the possible future effects of the ruling.

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Partner:
UNT Libraries Government Documents Department
Collection:
Congressional Research Service Reports
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Resource Type: Report
Format: Text