Grand Indictment: Cartier and Using USDT for Drug Laundering
Date: 2024-05-08 Author: Henry Casey Categories: IN WORLD
Fresh excitement has swept the world of cryptocurrencies and crime when the US Department of Justice brought drug trafficking and money laundering charges against Maximilian de Hoop Cartier, a member of the prominent Cartier family. The essence of the accusations is the use of over-the-counter transactions in USDT (Tether) to launder funds.
According to prosecutors, Maximilian had close ties to the Colombian drug cartel and was arrested in Miami in late February 2024 along with five other suspects. He is charged with five counts, including attempting to smuggle 100 kilograms of cocaine into the United States.
The most striking thing about this case is the manner in which the money was allegedly laundered. According to DOJ documents, from May to November 2023, Cartier carried out over-the-counter transactions in USDT to launder $14.5 million in illegally obtained funds.
U.S. Attorney for the Southern District of New York Damian Williams noted that Maximilian de Hoop Cartier and other suspects were part of a large network laundering drug trafficking proceeds using cryptocurrency and the U.S. financial system.
This case raises serious questions about the security and control of cryptocurrency in the secondary market, as well as the global strategy to combat cryptocurrency crime. Incidents such as these highlight the need for stronger legal measures and technological solutions to combat cryptocurrency-related crime and protect the financial system from illicit transactions.
