Cartier heir involved in USDT money laundering

The US Department of Justice (DOJ) has brought charges against the heir to the famous French jewellery house Cartier and detained him in Miami. According to a May 2 press release from the U.S. Attorney's office for the Southern District of New York, the person in custody is Maximilien de Hoop Cartier, also known as Max Cartier, who is a direct descendant of Louis Cartier, founder of luxury watch, necklace and bracelet maker Cartier. The press release said he had ties to drug trafficking gangs in Colombia.

Drug proceeds are converted into USDT

According to James Smith, Assistant Director of the Federal Bureau of Investigation (FBI), Maximilien de Hoop Cartier and five other Colombian citizens are accused of attempting to smuggle more than 100 kilograms of cocaine and launder hundreds of millions of dollars through unlicensed cryptocurrency exchanges.

According to the indictment, Maximilien de Hoop Cartier and five other Colombian citizens used cryptocurrency exchanges to launder money, with a total of approximately $14.5 million directly derived from drug trafficking. They used a money laundering network involving countries such as the United States and Colombia to launder the proceeds of crime through the United States to Colombia. In particular, between May and November 2023, the men converted drug proceeds into the cryptocurrency Tether, which they then sent to the United States. In the United States, Maximilien de Hoop Cartier converted it into legal tender and sent money via wire transfers to Colombian shell companies operated or maintained by ESTRADA ECHEVERRY and others.

The five counts carry a maximum sentence of 85 years

In addition, according to the press release, Cartier operates and controls a number of U.S. shell companies and uses these companies to conduct unlicensed remittance operations related to cryptocurrency exchanges. From January 2020 to the present, Cartier has conducted hundreds of millions of dollars in illegal transactions through unlicensed remittance operations and laundered hundreds of millions of dollars in proceeds of crime.

Maximilien de Hoop Cartier was charged with five counts, including conspiracy to commit money laundering, money laundering, bank fraud, monetary transactions of property derived from certain illegal activities and operating an unlicensed money transfer business. If convicted of these charges, he could face up to 85 years in prison, it is important to note that the indictment is only a charge against the defendant and should be considered innocent until sentencing.

1.Conspiracy to commit money laundering carries a maximum penalty of 20 years in prison
2.Money laundering is punishable by up to 20 years in prison
3.Bank fraud is punishable by up to 30 years in prison
4.Monetary transactions of property derived from certain illegal activities are punishable by up to 10 years' imprisonment
5.Operating an unlicensed money transfer business is punishable by up to five years in prison