Inheritor to Cartier Apprehended for Laundering Cash Utilizing USDT

• The DoJ has arrested Maximilien de Hoop Cartier, a direct descendant of Louis Cartier.
• Cartier was arrested in Miami, the place he allegedly labored with a Colombian drug cartel.
• The Cartier inheritor is accused of laundering lots of of tens of millions of {dollars}.

The USA Justice Division (DoJ) has made a big arrest, charging Maximilien de Hoop Cartier, an inheritor to the Cartier jewellery empire, with conspiring to launder proceeds from drug trafficking utilizing the biggest stablecoin by market capitalization, Tether (USDT).

Maximilien de Hoop Cartier, a direct descendant of Louis Cartier, the founding father of the posh jewellery model, was arrested in Miami, the place he allegedly coordinated with a Colombian drug cartel. 

Alongside 5 Colombian nationals, Cartier tried to import 100 kilos of cocaine and laundered lots of of tens of millions of {dollars}, primarily by over-the-counter (OTC) USDT trades. The group efficiently laundered 14.5 million USDT earlier than their arrests.

At the moment held in a Miami detention middle, Cartier’s co-conspirators are detained in Colombian jails. The scheme concerned Cartier controlling shell corporations and misrepresenting to monetary establishments that they have been engaged in software program and know-how companies. Based on the indictment, he then utilized the businesses’ accounts as unlicensed cash transmitters.

Utilizing USDT, {dollars}, pesos, and different currencies, Cartier allegedly laundered lots of of tens of millions of {dollars} derived from legal actions. U.S. Legal professional Damian Williams highlighted the DOJ’s dedication to crackdown on cash laundering schemes, whereas including:

“As alleged, Maximilien de Hoop Cartier, Leonardo de Jesus Zuluage Duque, Erica Milena Lopez Ortiz, and Felipe Estrada Echeverry have been members of a community that laundered tens of millions of {dollars}’ value of drug trafficking proceeds utilizing cryptocurrency and the U.S. monetary system.”

Regardless of spending most of his life in France, Cartier holds Argentine citizenship. He faces 4 counts of legal misconduct, together with cash laundering, conspiracy to commit cash laundering, transacting in property derived from specified illegal exercise, and working an unlicensed cash remitter.