United States v. Santos: "Proceeds" in Federal Criminal Money Laundering Statute, 18 U.S.C. Section 1956, Means "Profits," Not "Gross Receipts"
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" …
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Date:
June 13, 2008
Creator:
Murphy, M. Maureen
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Partner:
UNT Libraries Government Documents Department