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§ 5-623. Proceeds of drug crime

West's Annotated Code of MarylandCriminal Law

West's Annotated Code of Maryland
Criminal Law (Refs & Annos)
Title 5. Controlled Dangerous Substances, Prescriptions, and Other Substances (Refs & Annos)
Subtitle 6. Crimes Involving Controlled Dangerous Substances and Paraphernalia (Refs & Annos)
Part III. Related and Derivative Crimes
MD Code, Criminal Law, § 5-623
Formerly cited as MD CODE Art. 27, § 297B
§ 5-623. Proceeds of drug crime
Currentness
Definitions
(a)(1) In this section the following words have the meanings indicated.
(2) “Drug crime” means:
(i) a crime under this title; or
(ii) a crime committed in another jurisdiction that would be a crime under this title if committed in this State.
(3) “Financial transaction” means:
(i) a payment;
(ii) a purchase;
(iii) a sale;
(iv) a loan;
(v) a pledge;
(vi) a transfer;
(vii) a delivery;
(viii) a deposit;
(ix) a withdrawal; or
(x) an extension of credit or exchange of a monetary instrument or equivalent property, including precious metals, stones or jewelry, airline tickets, stamps, or credit in a financial institution as defined in § 1-101 of the Financial Institutions Article.
(4) “Monetary instrument” means:
(i) coin or currency of the United States or any other country;
(ii) a bank check;
(iii) a travelers' check;
(iv) a money order;
(v) an investment security; or
(vi) a negotiable instrument.
(5) “Proceeds” means money or any other property with a value exceeding $10,000.
Prohibited
(b) Except for a financial transaction necessary to preserve a person's right to representation as guaranteed by the 6th Amendment to the United States Constitution and Article 21 of the Maryland Declaration of Rights, a person may not, with the intent to promote a drug crime or with the intent to conceal or disguise the nature, location, source, ownership, or control of proceeds of a drug crime:
(1) receive or acquire proceeds knowing that the proceeds are derived from a drug crime;
(2) engage in a financial transaction involving proceeds knowing that the proceeds are derived from a drug crime;
(3) give, sell, transfer, trade, invest, conceal, transport, or maintain an interest in proceeds knowing that the proceeds are derived from a drug crime;
(4) direct, promote, plan, organize, initiate, finance, manage, supervise, or facilitate the transportation or transfer of proceeds knowing that the proceeds are derived from a drug crime; or
(5) conduct a financial transaction involving proceeds knowing that the proceeds are derived from a drug crime.
Penalty
(c) A person who violates this section is guilty of a felony and on conviction is subject to:
(1) for a first violation:
(i) imprisonment not exceeding 5 years;
(ii) a fine not exceeding the greater of $250,000 or twice the value of the proceeds involved in the financial transaction; or
(iii) both; or
(2) for each subsequent violation:
(i) imprisonment not exceeding 10 years;
(ii) a fine not exceeding the greater of $500,000 or 5 times the value of the proceeds involved in the financial transaction; or
(iii) both.
Separate violation
(d) Notwithstanding any other provision of law, for purposes of this section each financial transaction is a separate violation.

Credits

Added by Acts 2002, c. 26, § 2, eff. Oct. 1, 2002. Amended by Acts 2003, c. 21, § 1, eff. April 8, 2003.
Formerly Art. 27, § 297B.
MD Code, Criminal Law, § 5-623, MD CRIM LAW § 5-623
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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