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In the Courts

By ALM Staff | Law Journal Newsletters |
October 30, 2006

Money Laundering Must Be Based on Net Proceeds in Seventh Circuit

In United States v. Baker, No. 05-6326/6339 (S.D. Ill. Sept. 29, 2006), the federal district court for the Southern District of Illinois held that, as a substantive rule of law in the Seventh Circuit, money laundering offenses must be based on the net, and not gross, value of the proceeds.

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