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Maximilien de Hoop Cartier, claimed descendant of the esteemed Cartier jewelry lineage, has been formally charged with multiple counts of money laundering, bank fraud and running an unlicensed money transmitting business.
What Happened: The charges were announced by the U.S. Attorney’s Office for the Southern District of New York, implicating Cartier and five Colombian nationals in a conspiracy to launder drug trafficking proceeds through cryptocurrency.
According to U.S. Attorney Damian Williams, “This case underscores our resolve to track and dismantle sophisticated financial networks that launder narcotics profits through the American financial system and cryptocurrency.”
He highlighted that the network allegedly laundered around $14.5 million in drug money using Tether (CRYPTO: USDT) to facilitate illegal transfers from the U.S. to Colombia.
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FBI Assistant Director James Smith described the operation: “The defendants utilized advanced financial techniques to conceal the origins of drug money, converting illicit cash into crypto, then back into fiat currency.”
This operation purportedly involved Cartier’s U.S.-based shell companies, which were instrumental in the illegal conversion of drug proceeds to cryptocurrency.
HSI Special Agent Ivan J. Arvelo added, “Criminals often wear a veneer of legitimacy — Cartier, a name synonymous with luxury, is alleged to have been deeply involved in a criminal enterprise.”
What’s Next: The discussion on the regulation and oversight of digital assets, particularly in light of such high-profile cases, will be a prominent feature of Benzinga’s Future of Digital Assets event on Nov. 19.
This event aims to explore the intersection of law enforcement, cryptocurrency, and regulatory policy, providing insights into how digital assets can be protected from misuse while supporting innovation and legal economic activity.
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Image: Shutterstock
Posted In: $USDT
