https://crypto.news/heir-to-cartier-empire-arrested-for-attempted-money-laundering-using-usdt/ Many newbies and beginners believe that crypto is a way they can move funds without the government knowing, you are wrong, in fact crypto is a very bad way of laundering money, everything you do can be traced.
This guy is charged with drug trafficking and laundering of funds using USDT, I can't stop laughing when I read this news, USDT that's even wired to clap on illegal funds, it is centralized in and out.
If your source of money is not clean, crypto is not your home, where you should feel safe.
The guy should have known better and he should’ve understood that crypto transactions can also be traced and he should’ve learned how to cover his tracks properly but it serves him right, money laundering is a criminal activity and we shouldn’t partake in it. Is it that the guy is a novice and is not aware USDT cannot be used for such criminal acts, cryptocurrency does not make your transaction go untraceable but people think because it’s aimed at providing improved privacy they feel they can carry out illegal activities using cryptocurrency.
The culprit in the story is one that is already made for life going by his background in the story it said, and I quote "he is an heir to cartier empire, a direct descendent of Louis Cartier; the founder of the luxury watch, necklace, and bracelet maker", end of quote. If he was never caught I guess no one would have believed he was into such shit and illegal business his financial success would have been rather attributed to the influence of his lineage, but thanks to cryptocurrency, he was flagged out for what he really does.
You’re right, most of these rich folks usually get their hands dirty and if he wasn’t caught no one would have believed he is into money laundering. I wonder what kind of money a person who is an heir to such successful wealth is looking for that he would risk his freedom and go into something illegal, what kind of wealth is he after, now he has been caught andd would definitely be punished for such act. This is a really good story that would teach people a lot, many would learn that crypto is not a hiding place for criminals and they would be caught one day if they don’t stop.