TRISTANI LAW , LLC Dennis Tristani Managing Attorney
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The attorney must withdraw once money laundering activities perpetrated by the client are detected .
in which some U . S . attorneys have already been convicted of money-laundering-related offenses iv related to the facilitation of their clients ’ financial transactions , exposing the ongoing interest of law enforcement in the role of legal service providers in international
financial transactions . Anecdotal evidence also suggests an increased number of requests for evidence in EB-5 cases involving the money transfers from the jurisdictions implicated in money laundering and corruption scandals , like Russia and Venezuela .
The developing regulatory environment means that lawyers and EB-5 investors face more stringent oversight . Attorneys must now take extra precautions in advising clients on financial and corporate structures and crossborder transactions while ensuring that their clients fully understand the new obligations imposed by the CTA and other anti-money laundering regulations .
What are Attorneys ’ Ethical Obligations Regarding Anti- Money Laundering ?
The American Bar Association recently approved amendments to ABA Model Rule of Professional Conduct 1.16 ( MR 1.16 ) concerning declining or terminating client representation . The Amendment certainly affects practitioners in all areas , but certain new obligations imposed by the amendment relating to anti-money laundering laws are of special significance for immigration lawyers , especially those handling EB-5 cases .
The amended MR 1.16 now states that “[ a ] lawyer shall inquire into and assess the facts and circumstances of each representation to determine whether the lawyer may accept or continue the representation ” and shall withdraw from the representation of a client if “ the client or prospective client seeks to
TRISTANI LAW , LLC Dennis Tristani Managing Attorney
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