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 approximately $470 million in drug proceeds through an unlicensed over-the-counter (OTC) crypto exchange. The sentencing was handed down on April 28, 2026.
Cartier pleaded guilty in October 2025 to two charges: operating an unlicensed money transmitting business and conspiracy to commit bank fraud. The court found that he transferred over $470 million in drug money from U.S. bank accounts to Colombia, using an unlicensed OTC crypto exchange that converted the funds into USDT (Tether). He used shell companies, including Vintech Capital LLC and AZ Technologies LLC, which were presented as legitimate software publishing and development firms, to obscure the origin and ownership of the funds.
In addition to the prison sentence, the court ordered the forfeiture of approximately $2.36 million, which represents only about 0.5% of the total laundered amount—essentially the fees Cartier earned from the operation. Authorities also seized specific accounts held by the shell companies. As an Argentine citizen residing in France, Cartier faces a deportation order after serving his sentence.
Prosecutors notably referred to Cartier as a “purported” family member of the Cartier dynasty, indicating that the government investigated but did not confirm the lineage claim. Federal prosecutors used that word in court filings to signal that the connection was not verified.
The case highlights the growing intersection of traditional wealth and cryptocurrency crime, illustrating how unlicensed OTC exchanges can be exploited for large-scale money laundering due to their lack of anti-money laundering (AML) controls. The court emphasized the scale and sophistication of the operation, which involved layering through shell companies and using USDT as a bridge between the crypto economy and the traditional banking system.
Five Colombian nationals remain in various stages of proceedings in connection with the case, including Leonardo de Jesus Zuluaga Duque, who faces charges of conspiracy to import over 100 kilograms of cocaine. Their cases will determine whether the prosecution reaches the network that generated the $470 million in proceeds.
