Wu Blockchain reports that the U.S. Attorney's Office for the Southern District of New York announced that French national Maximilien de Hoop Cartier has been sentenced to 8 years in prison for operating an unregistered cryptocurrency over-the-counter (OTC) business and conspiring to commit bank fraud. He laundered over $470 million through a network of shell companies. Since 2018, he used multiple U.S. bank accounts and falsified business records to convert illegal proceeds from drug trafficking and other crimes into fiat currency via cryptocurrency, transferring the funds to overseas criminal networks in countries like Colombia. During this time, he falsely claimed to be running a software business and forged documents to conceal the source of the funds, while failing to comply with anti-money laundering and registration obligations. https://(wublock123.com)/news/french-man-8-year-sentence-470m-money-laundering-unregistered-crypto-otc-60266