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 ... continued below

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Murphy, M. Maureen June 13, 2008.

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This report is part of the collection entitled: Congressional Research Service Reports and was provided by UNT Libraries Government Documents Department to Digital Library, a digital repository hosted by the UNT Libraries. It has been viewed 523 times . More information about this report can be viewed below.

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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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Congressional Research Service Reports

The Congressional Research Service (CRS) is the public policy research arm of Congress. This legislative branch agency works exclusively for Members of Congress, their committees and their staff. This collection includes CRS reports from the mid-1970's through the present--covering a variety of topics from agriculture to foreign policy to welfare.

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  • June 13, 2008

Added to The Portal to Texas History

  • Dec. 11, 2008, 8:32 p.m.

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  • Dec. 3, 2015, 11:43 p.m.

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Citations, Rights, Re-Use

Murphy, M. Maureen. United States v. Santos: "Proceeds" in Federal Criminal Money Laundering Statute, 18 U.S.C. Section 1956, Means "Profits," Not "Gross Receipts", report, June 13, 2008; Washington D.C.. (digital.library.unt.edu/ark:/67531/metacrs10756/: accessed January 23, 2017), University of North Texas Libraries, Digital Library, digital.library.unt.edu; crediting UNT Libraries Government Documents Department.