US Court Sentences Cartier Family Descendants to 8 Years in Prison for $470 Million Crypto Money Laundering Case According to Golden Finance, on April 29th, a US court sentenced Maximilien de Hoop Cartier, a descendant of the Cartier luxury family, to 8 years in prison for operating an unlicensed over-the-counter cryptocurrency trading platform and assisting in the transfer of over $470 million in drug trade proceeds. Cartier has previously pleaded guilty to two charges of operating an unlicensed currency transmission business and conspiring to commit bank fraud. According to the prosecutor's introduction, Cartier's trading network consists of a large number of American shell companies and more than ten American bank accounts. He maintained the operation of the accounts by falsely stating the nature of his business to financial institutions (falsely claiming to be engaged in software publishing and development). Cartier receives drug funds in the form of cryptocurrency, converts them into cash, deposits them into a shell company account, transfers them to other nodes in the money laundering network, and ultimately withdraws them in local currency in Colombia. In addition, the court has ordered the confiscation of approximately $2.36 million in commissions and related shell company bank accounts obtained by Cartier from it.