Cartier heir gets 8 years for laundering $470M in drug money via crypto

A U.S. court has sentenced Maximilien de Hoop Cartier, a descendant of the luxury jewelry brand Cartier, to eight years in prison for laundering drug proceeds through an unlicensed over-the-counter (OTC) crypto exchange, The Block reported. He pleaded guilty to two charges—operating an unlicensed money transmitting business and conspiracy to commit bank fraud—for transferring more than $470 million in drug proceeds from U.S. bank accounts to Colombia. In addition to the prison sentence, the court ordered the forfeiture of approximately $2.36 million and the seizure of specific accounts held by shell companies.