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Committee backs new money‑laundering and illegal‑investment crimes, sends bill to Management Council
Summary
The Select Committee on Gaming voted to advance bill 26LSO146, which would create state money‑laundering and illegal‑investment offenses and criminal penalties, after staff explained the draft and law‑enforcement groups urged grading options tied to value or underlying offense.
Tamara Rebley, legislative counsel with the Legislative Service Office, presented 26LSO146 (v.0.6), a draft intended to create a comprehensive Wyoming money‑laundering statute and a separate illegal‑investment offense to target structuring and evasion of currency reporting requirements.
Rebley said the draft creates two new crimes: money laundering (broadly defined to include transporting, possessing, transacting or concealing property that a person knows or reasonably should know is derived from criminal activity) and illegal investment (targeting intentional evasion of reporting requirements and structuring of transactions). Rebley noted the bill borrows from other models and was intended to address the lack of a comprehensive state money‑laundering statute.
Under the draft, money laundering would be punishable by up to 10 years in prison and/or a fine of up to $10,000. Illegal investment would carry the same maximum penalty. Rebley flagged options that the committee could pursue to narrow or grade the offense: (1) grade money laundering by linking punishment to the underlying predicate offense (so laundering proceeds from a misdemeanor would be a misdemeanor; laundering proceeds from a felony would be a felony), or (2) grade the offense by the value of property involved within a defined period (for example, a threshold like $1,000 in a six‑month period), which would mirror other theft and misuse gradings.
Alan Thompson, executive director of the Wyoming Association of Sheriffs and Chiefs of Police, said members supported a comprehensive statute and asked the committee to consider grading by value or underlying offense to avoid criminalizing trivial transactions. Thompson said local law enforcement has seen intermittent problems and welcomed clearer statute to aid investigation and prosecution. Committee members asked whether the draft covers digital and cryptocurrency transactions; Rebley confirmed the bill's verbs and reporting references are not limited to in‑person transactions and would encompass electronic transfers when reporting obligations apply.
Committee members discussed prosecutorial discretion, the policy tradeoffs of grading, and the possible need to refine definitions. Rebley noted the draft does not currently grade money laundering; the two grading options are listed in the staff comment for committee direction.
After public testimony from WASCOP urging graded penalties and a brief committee discussion, the committee moved and approved the bill draft and recommended it to Management Council for further consideration. Roll call recorded the motion as carried (committee recorded as 6 aye). The committee also asked staff to provide suggested drafting language for grading options and to incorporate stakeholder feedback if Management Council requests sponsorship.
Ending: The committee advanced 26LSO146 as amended for Management Council consideration and asked LSO to prepare graded penalty options and clarifying definitions for subsequent review.
