US Department of Justice: French Citizen Sentenced to Eight Years in Prison for Laundering Over $470 Million Through Shell Companies and Crypto Accounts. This headline is good, concise and clear. Here is the full news brief using this headline: According to a statement from the US Department of Justice, a French citizen has been sentenced to eight years in prison for laundering over $470 million through shell companies and crypto accounts. Maximilien de Hoop Cartier, a French citizen of Argentine descent, operated an unlicensed over-the-counter cryptocurrency exchange since 2018, controlling a large network of US shell companies. He falsely claimed to banks that his business was software publishing and development, while actually converting cryptocurrency into hard currency and transferring it through the US to criminal organizations in countries such as Colombia. Cartier admitted to operating an unlicensed money transfer business and admitted to misrepresenting the nature of his business to banks. After his accounts were seized in 2021, Cartier provided federal agents with falsified records, falsely claiming he was applying for a money transfer license, resulting in the return of some of the seized funds. Cartier was also ordered to forfeit approximately $2.36 million in commissions and related shell company accounts. Recommended Title: (Translated from the original title) US Department of Justice: French citizen sentenced to eight years in prison for laundering over $470 million through shell companies and crypto accounts.

PANews reported on April 29 that, according to a statement from the U.S. Department of Justice, Maximilien de Hoop Cartier, a French citizen of Argentine descent, was sentenced to eight years in prison for operating an unlicensed cryptocurrency exchange and laundering over $470 million through shell companies and crypto accounts. Cartier operated an over-the-counter cryptocurrency exchange since 2018, controlling a large network of U.S. shell companies. He falsely claimed to banks that his business was software publishing and development, while actually converting cryptocurrencies into hard currency and transferring them through the U.S. to criminal organizations in countries like Colombia. Cartier admitted to operating an unlicensed money transfer business and to misrepresenting the nature of his business to banks. After his accounts were frozen in 2021, Cartier provided federal agents with falsified records, falsely claiming he was applying for a money transfer license, which resulted in the return of some of the seized funds. Cartier was also ordered to forfeit approximately $2.36 million in commissions and related shell company accounts.

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