US Supreme Court to hear money laundering case

[JURIST] The US Supreme Court [official website; JURIST news archive] granted certiorari Monday in US v. Santos [cert. petition, PDF] 06-1005 [docket], where the Court will consider the definition of proceeds in relation to illegal money laundering schemes under 18 USC 1956 [text]. The case is on appeal from the US Court of Appeals for the Seventh Circuit.

The Seventh Circuit ruled [PDF text] in favor of the defendants, finding that the government did not present a compelling reason to overturn the definition of proceeds as "mean net income" rather than gross receipts. AP has more. Read the full Order List [PDF text].

 

About Paper Chase

Paper Chase is JURIST's real-time legal news service, powered by a team of 30 law student reporters and editors led by law professor Bernard Hibbitts at the University of Pittsburgh School of Law. As an educational service, Paper Chase is dedicated to presenting important legal news and materials rapidly, objectively and intelligibly in an accessible format.

© Copyright JURIST Legal News and Research Services, Inc., 2013.