Jay Clayton, U.S. Attorney for the Southern District of New York | Department of Justice
Maximilien de Hoop Cartier was sentenced to eight years in prison for operating a large-scale international money laundering network, according to an April 28 announcement by United States Attorney for the Southern District of New York, Jay Clayton. Cartier laundered hundreds of millions of dollars in illicit proceeds, including drug trafficking profits, through U.S.-based shell companies and cryptocurrency accounts. The sentencing took place before U.S. District Judge Mary Kay Vyskocil.
Cartier's conviction highlights the ongoing efforts by law enforcement agencies to combat complex financial crimes that enable further criminal activity. Prosecutors said his actions facilitated the movement of criminal proceeds from the United States to overseas organizations.
"Maximilien de Hoop Cartier exploited his knowledge of U.S. and international financial systems to launder drug money and other crime proceeds," said Jay Clayton. "De Hoop Cartier created a network of shell companies and crypto accounts to wash and conceal criminal proceeds. He used that network to funnel hundreds of millions of dollars from the United States to overseas criminal organizations, fueling their continued illicit operations. Stopping money laundering stops crime more broadly. This federal prison sentence sends a clear message that those who launder criminal proceeds will face serious consequences."
Cynthia Hearn, Acting Special Agent in Charge at IRS-Criminal Investigation (IRS-CI), said: "Today’s announcement demonstrates IRS Criminal Investigation’s commitment to disrupting the illicit flow of money that enables narcotics traffickers to illegally launder millions in illicit drug money... CI and our law enforcement partners are committed to aggressively investigating individuals who engage in money laundering and other financial crimes." FBI Assistant Director James C. Barnacle, Jr., added: "Maximilien de Hoop Cartier exploited U.S. companies and banks to launder hundreds of millions of dollars in support of international criminal enterprises... The FBI and our law enforcement partners on the New York Homeland Security Task Force remain determined to stopping illegal cash flow into foreign countries."
Court documents show that since at least 2018 until his arrest, Cartier operated an unlicensed over-the-counter cryptocurrency exchange using a web of U.S.-based shell companies designed solely for converting cryptocurrency into hard currency on behalf of clients involved in crime networks abroad—primarily Colombia—by lying about business activities when opening bank accounts, forging contracts and invoices, bypassing anti-money-laundering protocols required by law, ultimately moving more than $470 million through these entities.
In addition to prison time, Cartier was ordered by the court to pay $2,362,160.62 as forfeiture representing commissions earned from converting cryptocurrency into hard currency for his clients; he must also forfeit certain bank accounts belonging to his shell companies.
