A descendant of the Cartier jewelry dynasty has been sentenced to eight years in federal prison after confessing to running an unlicensed cryptocurrency exchange that laundered more than $470 million in drug trafficking proceeds.
Maximilien de Hoop Cartier, a resident of France who also performs as a singer under the name Max Cartier, was sentenced in Manhattan federal court on Tuesday, April 28, after pleading guilty in October to operating an unlicensed money-transmitting business and conspiracy to commit bank fraud.
The 58-year-old Cartier funneled the money through a network of US shell companies disguised as fake software and tech firms, with names such as Bullpix Solutions, Softmill LLC, and VC Innovated, before routing it to Colombia, prosecutors said.
These companies existed solely to receive and transmit international drug money, converting criminals' cryptocurrency into hard currency. To deceive banks, Cartier used forged contracts and invoices, making it appear the firms were engaged in legitimate tech work. He deliberately broke transactions into smaller amounts to avoid bank scrutiny.
The scheme, dubbed the Cartier Cell by federal authorities, dates back to at least 2018. The jewelry heir told an undercover FBI agent that he considered a New York City hotel his second home, where he handled his crypto clients, lawyers, and banks.
In 2021, DEA agents seized nearly $940,000 from his accounts after funneling drug proceeds into them through an undercover operation. Cartier then walked into the US Attorney's office in Pennsylvania with forged business records and talked prosecutors into returning a portion of the money before agents built the case that ultimately led to his conviction.
Cartier, a French resident and Argentine citizen, was ordered to pay $2,362,160 in forfeiture, representing his cut of the laundering operation, and to forfeit several shell company bank accounts. US Attorney John Clayton stated that Cartier exploited his knowledge of US and international financial systems to launder drug money and other crime proceeds.
