US court sentences Cartier descendant to 8 years in $470 million crypto laundering case
The Block
Maximilien de Hoop Cartier received an eight-year prison sentence for operating an unlicensed crypto exchange that laundered $470 million in illicit drug proceeds.Summary
Maximilien de Hoop Cartier, a descendant of the Cartier luxury family, has been sentenced to eight years in federal prison for his role in laundering $470 million. Operating an unlicensed crypto exchange, Cartier used a network of shell companies and deceived U.S. banks by misrepresenting his business activities as software development. He converted drug-related cryptocurrency into fiat currency, routing the funds through bank accounts before moving them to Colombia. In addition to the prison term, he was ordered to forfeit approximately $2.36 million in ill-gotten commissions.
(Source：The Block)