U.S. v. GRASSO

No. 03-1441, 03-1442.

381 F.3d 160 (2004)

UNITED STATES of America v. Michael J. GRASSO, Jr., Appellant.

United States Court of Appeals, Third Circuit.

Opinion Filed August 23, 2004.


Attorney(s) appearing for the Case

Walter M. Phillips, Jr., (Argued), Kevin J. Kotch, Hoyle, Fickler, Herschel & Mathes, Philadelphia, PA, for Appellant.

Patrick L. Meehan, United States Attorney, Laurie Magid, Deputy United States Attorney for Policy and Appeals, Robert A. Zauzmer, Assistant United States Attorney, Senior Appellate Counsel, Anne Whatley Chain (Argued), Assistant United States Attorney, Peter F. Schenck, Office of United States Attorney, Philadelphia, PA, for Appellee.

Before AMBRO, FUENTES and GARTH, Circuit Judges.


OPINION OF THE COURT

AMBRO, Circuit Judge.

Michael J. Grasso appeals his conviction and sentence for money laundering. He argues that the term "proceeds" in the money laundering statute, 18 U.S.C. § 1956, encompasses only the net profits, and not the gross receipts, of criminal activity. This proposed statutory construction is incompatible with the text of the statute as well as existing case law in our Circuit. We therefore affirm Grasso's conviction...

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