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Launder

   Also found in: Dictionary/thesaurus, Encyclopedia, Wikipedia 0.14 sec.
Launder
To move illegally acquired cash through financial systems so that it appears to be legally acquired.


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CHEATING ON INVOICES Zdanowicz explained how it would be easy to launder $1 million in cash quickly and move it out of the country: ``I`d buy 200 Rolex watches in Miami [at about $5,000 each] and export them to my partner in Colombia, charging $5 each on the invoice.
HUGE sums were spent at a Birmingham casino by two professional gamblers recruited to launder dirty money, the city's Crown Court was told.
Entering into an arrangement to launder money (including assisting a client to set up a money laundering scheme) is punishable by up to 14 years in prison.
 
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