what is illegal investment.

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what is illegal investment.

please explain what illegal investment is and what penalty it carries

Asked on June 8, 2009 under Criminal Law, Texas

Answers:

M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney

Answered 12 years ago | Contributor

Under Texas law, a person commits the offense of illegal investment if he knowingly or intentionally (1) expends funds that he knows are derived from the commission of certain enumerated narcotics offenses, or (2) finances or invests funds he knows or believes are intended to further the commission of such an offense.

The penalty depends on whether it is charged as a 1st. or 2nd. degree felony.  A 1st degree felony is punishable for a period of incarceration from 5-99 years and up to a $10,000 fine; a 2nd degree felony is punishable for a period of incarceration from 2-20 years and a fine up to $10,000.


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