By Al Kaltman ——Bio and Archives--June 27, 2018
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Whoever, knowing that the property involved in a financial transaction represents the proceeds of some form of unlawful activity, conducts or attempts to conduct such a financial transaction... shall be sentenced to a fine of not more than $500,000 or twice the value of the property involved in the transaction, whichever is greater, or imprisonment for not more than twenty years, or both. Whoever transports, transmits, or transfers, or attempts to transport, transmit, or transfer a monetary instrument or funds from a place in the United States to or through a place outside the United States...shall be sentenced to a fine of not more than $500,000 or twice the value of the monetary instrument or funds involved in the transportation, transmission, or transfer, whichever is greater, or imprisonment for not more than twenty years, or both.
Any financial institution or any officer, director, or employee of any financial institution...found guilty of an offense under this section...shall be subject to the same penalties as those prescribed for the offense.
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Al Kaltman is a political science professor who teaches a leadership studies course at George Washington University. He is the author of Cigars, Whiskey and Winning: Leadership Lessons from General Ulysses S. Grant.