The Morocco international, who will sign the Gunners from Bordeaux, reportedly allowed a friend to use his bank account to transfer money to his homeland.
The friend, Patrick Felici, set up a restaurant in Agadir with about £1.5million in laundered money and was jailed for two years after being charged with aggravated money-laundering, abuse of public funds and breaches of employment laws.
Prosecutor Alain Benech said: "Marouane Chamakh played the role of bag-carrier in this case. However, he behaved in a foolish way."
Chamakh's involvement in the case is not likely to harm his deal with Arsenal.