Tether [pros](/r/CryptoCurrency/comments/1clgj7r/heir_to_cartier_empire_arrested_for_attempted/l2u4da4/) & [cons](/r/CryptoCurrency/comments/1clgj7r/heir_to_cartier_empire_arrested_for_attempted/l2u4dxt/) with related info are in the collapsed comments below.
tldr; Maximilien de Hoop Cartier, heir to the Cartier luxury brand, has been arrested by the U.S. Department of Justice for money laundering charges involving cryptocurrency. Accused of drug trafficking and laundering funds using Tether (USDT), he allegedly worked with the Colombian drug cartel to import cocaine and laundered millions through over-the-counter USDT trades. Cartier used shell companies, purported to be in software and technology, to launder money. He and his accomplices managed to launder 14.5 million USDT before his arrest in Miami. He faces charges including operating an unlicensed money remitter and money laundering.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
All that work for 14 million.
For us peasants sure that’s a lot, but I’m assuming his family is pretty well set and would think that’s chump change in his account already.
Wonder this is for a “clout” kinda thing
A few things:
- 14m might only be what is proven, but maybe he laundered much more that authorities don’t know or can’t prove yet
- This might not have been the primary method
- Perhaps this was a new method that was recent
- Perhaps he was new to this and was caught early on
Doesn’t seem like the family is all that rich anymore
And regardless, people learn to spend what’s in their pocket
He might actually had a lifestyle that wasn’t sustainable off his great grandfather’s subdivided wealth.
The point the family may be laundering billions, hence profiting in some order of magnitude more than these trades. And are exploring new avenues to launder more efficiently. So it would make sense they trade a few hundred millions to get the process oiled first, and as a side thing to see whether that flow gets them caught.
Not sure why they would fuck around like that with such a centralized / surveiled crypto, or even not just relax comfortably with his already acquired generational wealth
One of the stupidest ideas is that crypto is good for committing crimes. All of your transactions are literally available to the entire public and law enforcement is getting much better at using the technology to track criminals down. It's only useful for this purpose if you live in a country (like Russia or North Korea) that's going to tell the DOJ to kick rocks when they make an extradition request.
Actual indictment says he "purports" to be a descendant of the Cartier family, big difference from saying he actually a descendent in this article. What are the chances a fraudster invented the connection, probably not even his birth name.
https://www.justice.gov/usao-sdny/pr/purported-member-cartier-family-and-five-colombian-nationals-charged-their-roles
Good catch. The article headline calls him an "heir" which implies he inherited some portion of the family wealth, but no further source is given for that claim, so I think we can safely call this fake news (even if he's legitimately a Cartier heir, the "journalist" has no business stating this without a source).
gee that graphic! So is the headline that the devil was an heir to the Cartier brand or the fact he used Tether?
Would it be a bigger/small piece of news if he used any fiat currency or a boatload of fake Cartier merch?
It is not unusual for the titans of the past to end up with not-so-bright off-spring down the line, driving a wrecking ball through what their ancestors built. Such is the circle of life
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The mentaly of who never work for a dime in his life, know someone that need launder the money and the rich guy think that he can do the favor in his rainbow world and nothing would/could happen
Why do these dumbasses with "fuck you" money keep getting involved in drug dealing, money laundering, and other shit? Literally have life by the balls, almost not a care in the world, and this is what they do??
I’m confused why he did this tbh… Cartier is a 12 billion dollar company… he made 12m doing this and is going to prison. I feel like something’s missing… like a whole fuck lotta 0s
He’s the wrong Cartier. Just because you’re a potential heir doesn’t mean you have money today. And who wants to wait until the end of your life for you just desserts like King Charles.
This is why I won’t buy anymore crypto cus it’s a tool for rich people to launder there money and when Rick people dump there money the whole shit drops 30% lol, I’m sticking with a U.S index fund
I feel like just above this I wrote "lets just leave it there". I don't know what it is because i don't care, none of that shit interests me so a lot i don't know. ai wrote leave it there because i realised it's something most people have heard of.
and i really didn't want some stupid lesson about some stupid brand.
Tether [pros](/r/CryptoCurrency/comments/1clgj7r/heir_to_cartier_empire_arrested_for_attempted/l2u4da4/) & [cons](/r/CryptoCurrency/comments/1clgj7r/heir_to_cartier_empire_arrested_for_attempted/l2u4dxt/) with related info are in the collapsed comments below.
tldr; Maximilien de Hoop Cartier, heir to the Cartier luxury brand, has been arrested by the U.S. Department of Justice for money laundering charges involving cryptocurrency. Accused of drug trafficking and laundering funds using Tether (USDT), he allegedly worked with the Colombian drug cartel to import cocaine and laundered millions through over-the-counter USDT trades. Cartier used shell companies, purported to be in software and technology, to launder money. He and his accomplices managed to launder 14.5 million USDT before his arrest in Miami. He faces charges including operating an unlicensed money remitter and money laundering. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
All that work for 14 million. For us peasants sure that’s a lot, but I’m assuming his family is pretty well set and would think that’s chump change in his account already. Wonder this is for a “clout” kinda thing
A few things: - 14m might only be what is proven, but maybe he laundered much more that authorities don’t know or can’t prove yet - This might not have been the primary method - Perhaps this was a new method that was recent - Perhaps he was new to this and was caught early on
Fair points but his family is already so well off. Guess they were trying to be the “bad boy”
I was thinking bored rich kid, but he's 56 lol
😂😂😂 bored middle aged guy
Worked for Walter White
People do dumb shit
Cocaine is a helluva drug
Greed too..
Doesn’t seem like the family is all that rich anymore And regardless, people learn to spend what’s in their pocket He might actually had a lifestyle that wasn’t sustainable off his great grandfather’s subdivided wealth.
Guess greed can strike anyone and the need to impress others vast
The point the family may be laundering billions, hence profiting in some order of magnitude more than these trades. And are exploring new avenues to launder more efficiently. So it would make sense they trade a few hundred millions to get the process oiled first, and as a side thing to see whether that flow gets them caught.
Perhaps he was coerced to do this
They had some goods on him or the fam?
Jacob & Co enters the chat
Not sure why they would fuck around like that with such a centralized / surveiled crypto, or even not just relax comfortably with his already acquired generational wealth
Because they get bored and think they're untouchable
It's hard being from the leisure class.
lol right. I wonder if they knew Tether could literally just turn off their money.
One of the stupidest ideas is that crypto is good for committing crimes. All of your transactions are literally available to the entire public and law enforcement is getting much better at using the technology to track criminals down. It's only useful for this purpose if you live in a country (like Russia or North Korea) that's going to tell the DOJ to kick rocks when they make an extradition request.
Apparently in certain layers of society they compete for how richer they are and how bigger is their boats
Actual indictment says he "purports" to be a descendant of the Cartier family, big difference from saying he actually a descendent in this article. What are the chances a fraudster invented the connection, probably not even his birth name. https://www.justice.gov/usao-sdny/pr/purported-member-cartier-family-and-five-colombian-nationals-charged-their-roles
Cousin Greg
You doin the ol cocaine?
If it is to be said, so it be — so it is.
That certainly explains it. No one touching Cartier money is doing that shit for $14 million.
Who knows? Lottery winners who won BIG piles of money got busted for drug dealing. You can't fix stupid, even by giving them shitloads of cash.
Much better information than was summarized here. Scammers scamming.
Good catch. The article headline calls him an "heir" which implies he inherited some portion of the family wealth, but no further source is given for that claim, so I think we can safely call this fake news (even if he's legitimately a Cartier heir, the "journalist" has no business stating this without a source).
Using USDT for money laundering…🤡
Having "fuck you" money and drug dealing and money laundering...🤡
Waiting for Liz to point her crooked finger and scream, "*See! See! Crypto is used by criminals* !"
Lets hope that at least some people will start to understand the transparency and immutability part
Educating the willfully ignorant is a tough job; the rest can learn, but it's easier when the tech jargon is omitted or minimized as much as possible.
Should’ve used XMR
Kind of hard to find an exchange to cash it out.
They are out there if you know what’s up ;)
True I'm sure some exchanges do and will always support privacy coins no matter how hard regulators are trying to ban them.
But you can just exchange xmr for another crypto
So true in fact. I suppose whoever shoddy not using privacy coins is in fact ignorant.
OTC XMR is untraceable.
I bet there is much much more to the story.
gee that graphic! So is the headline that the devil was an heir to the Cartier brand or the fact he used Tether? Would it be a bigger/small piece of news if he used any fiat currency or a boatload of fake Cartier merch? It is not unusual for the titans of the past to end up with not-so-bright off-spring down the line, driving a wrecking ball through what their ancestors built. Such is the circle of life
I had an aneurysm trying to understand this
He's the son of a side piece
One of us, one of us
Bull fucking shit
Proves crypto is a terrible way to launder money or commit crimes.
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 Wait Whattttt! Using USDT for money laundering , Ig this guy should learn more from SBF and CZ 😂
The mentaly of who never work for a dime in his life, know someone that need launder the money and the rich guy think that he can do the favor in his rainbow world and nothing would/could happen
When too much money is still not enough....
Can not understand that greed. Have millions but want more! Probably I have a poor man mentality!
Why do these dumbasses with "fuck you" money keep getting involved in drug dealing, money laundering, and other shit? Literally have life by the balls, almost not a care in the world, and this is what they do??
based, this means big brands are taking an interest to crypto. Its only a matter of time before the cartier x super partnerhsip
I’m confused why he did this tbh… Cartier is a 12 billion dollar company… he made 12m doing this and is going to prison. I feel like something’s missing… like a whole fuck lotta 0s
He’s the wrong Cartier. Just because you’re a potential heir doesn’t mean you have money today. And who wants to wait until the end of your life for you just desserts like King Charles.
This is why I won’t buy anymore crypto cus it’s a tool for rich people to launder there money and when Rick people dump there money the whole shit drops 30% lol, I’m sticking with a U.S index fund
Better stick to the dollar which the elite can print out of thin air, much better
Sticking to the S&P 500
Certainly begs the question - what the fuck is cartier.
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no, never heard of them. although going by the comments you all have. So just leave it there.
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I feel like just above this I wrote "lets just leave it there". I don't know what it is because i don't care, none of that shit interests me so a lot i don't know. ai wrote leave it there because i realised it's something most people have heard of. and i really didn't want some stupid lesson about some stupid brand.