The heir to French luxury jewelry company Cartier was arrested for laundering drug money with USDT

The United States Department of Justice (DoJ) has indicted and arrested an heir to the Cartier jewelry empire known for conspiracy to launder proceeds from the drug trade using USDT.

In Miami, law enforcement arrested Maximilien de Hoop Cartier, a direct descendant of Louis Cartier, founder of the luxury watchmaker, necklace and bracelet, where he allegedly did business with a Colombian drug cartel.

Cartier is currently being held in a detention center in Miami while his accomplices are in a Colombian prison.

To carry out his plan, Cartier took control of shell companies and lied to financial institutions that they were in the business of software and technology. Then, according to the indictment, he used the companies’ account as unlicensed money transmitters.

Using USDT, dollars, pesos and other currencies, Cartier laundered hundreds of millions of dollars worth of criminal proceeds.

Cartier spent most of his life in France, although his nationality was Argentine. Cartier faces four criminal charges: money laundering and conspiracy to launder money, trading assets derived from illegal activity and operating an unlicensed money transmitting company.

USDT is particularly suited to money laundering. It replaces directly with dollars, unlike bank transfers, which can be sent without a license within seconds. For drug cartels, USDT’s almost instant and irreversible solvency is an excellent form of payment.

For its part, USDT’s parent company, Tether, has repeatedly announced assurances that it is working to fall the use of USDT for criminal purposes.

Cartier is a French group of companies, best known for designing, manufacturing, and distributing high-end jewelry and watches. Founded by Louis-François Cartier in Paris in 1847, the company was managed within the family until 1964. Cartier has a long history of making products for royalty and world-renowned stars.*

King Edward VII of England once called Cartier “Jewelry for kings and kings of jewelry”. At his coronation in 1902, he commissioned 27 crowns and issued royal accreditation to Cartier in 1904. Similar licenses were later granted by the courts of Spain, Portugal, Russia, Siam (present-day Thailand), Greece, Serbia, Belgium, Romania, Egypt, Albania, Monaco, and the House of Orleans.

Today, Cartier is part of the Richemont Group and has a worldwide presence through its network of stores, authorized retail partners, and online channels. Cartier continues to be a symbol of sophistication and elegance, quality and excellence, with groundbreaking designs and craftsmanship.