Cartier jewelry heir arrested for laundering drug money with USDT

The US Department of Justice (DoJ) has indicted and arrested the heir to the Cartier jewelry empire for conspiring to launder drug trafficking proceeds using Tether (USDT).

In Miami, police arrested Maximilien de Hoop Cartier, a direct descendant of luxury watch, necklace and bracelet maker founder Louis Cartier, on suspicion of collaborating with a Colombian drug cartel.

Cartier with 5 Colombians I’ve tried Importing 100 kilograms of cocaine and laundering hundreds of millions of dollars, primarily through over-the-counter (OTC) USDT transactions. In fact, they had successfully laundered 14.5 million USDT before their arrest.

Cartier is currently in a Miami detention center and his co-conspirators are in a Colombian prison.

To carry out his plan, Cartier took control of a shell company and falsely told financial institutions that he was in the software and technology business. He then used the accounts at those companies as unauthorized money transfer agents, according to the indictment.

Cartier was laundered using USDT, dollars, pesos and other currencies hundreds of millions of dollars Value of proceeds of crime.

read more: Founder of Russian licensed exchange Garantex launches Tether Desk

The tether loved by Cartier’s jewelry heiress

Although Cartier spent most of his life in France, his nationality is Argentine.he is facing 4 criminal acts: Money laundering and conspiracy to commit money laundering, dealing in property derived from certain illegal activities, and operating unlicensed money transmitters.

Jeweler Louis Francis Cartier founded this luxury brand in Paris in 1847. His descendant, Maximilian Cartier, also owned Patagonia, a wine, beer, and bottled water company.

USDT is uniquely suited for money laundering. This is a direct replacement for dollars, but unlike bank transfers, it can be transferred without permission to anyone using: 16 Build your blockchain within seconds. For drug cartels accustomed to risky cash transfers and unreliable bank transfers, USDT’s near-instant and irreversible settlement is a welcome upgrade.

Read more: Tether: 10 years, 100,000,000,000 USDT and still no audit

As Tether’s parent company, Publish He reiterated that he is working to reduce the criminal use of USDT.

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