President of French American Express Held in Drug Case

PARIS — The president of American Express-France has been arrested and indicted on charges of laundering money for an international cocaine ring, judicial sources said today.

Hector Cuellar, 50, a U.S. citizen and native of Bogota, Colombia, was arrested at Charles de Gaulle Airport April 13 after an investigation by French police working with agents of the U.S. Drug Enforcement Administration and American Express’s security department, the sources said.

Cuellar allegedly had contacts with Roland Badier, 49, a Frenchman with a criminal record who was arrested by French customs agents Oct. 13 while carrying nearly 7 pounds of cocaine.

Badier allegedly made contact with Cuellar through a Colombian money-changer, identified only as Alfaro, who is implicated in a money-laundering scheme in the United States.