Section 554.985 - Violation as felony; penalty; seizure and forfeiture of proceeds or instrumentality of crime(1) A person that knowingly violates this act is guilty of a felony punishable by imprisonment for not more than 7 years or a fine of not more than $10,000.00, or both.(2) The proceeds, the substituted proceeds, or an instrumentality of a crime described in subsection (1) are subject to seizure and forfeiture in the manner provided in chapter 47 of the revised judicature act of 1961, 1961 PA 236, MCL 600.4701 to 600.4709.Added by 2014, Act 448,s 42, eff. 4/2/2015.