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The U.S. Securities and Exchange Commission (SEC) is struggling to file a case against Hex and PulseChain founder Richard Schueler (best known as Richard Heart), with court appearances scheduled via teleconference scheduled from November 28 to January. It has been postponed to the 30th.
student, who lives in Helsinki, Finland, is accused of raising more than $1 billion through unregistered securities offerings since late 2019. The SEC also said he misappropriated investor assets and defrauded investors.
Richard Heart used his money to fund a lavish lifestyle.
He was also known to lavish his profits on luxury cars, designer clothing, and a black diamond called The Enigma.
According to a recent report, the SEC asked Finland’s Ministry of Justice in August to serve the lawsuit on Schueler. filing. However, the SEC has since received no confirmation that the founder was served.
Magistrate Peggy Kuo is overseeing the case in the Eastern District of New York.
The Eastern District said it “claimed jurisdiction because many of the cryptocurrency asset transactions described herein occurred on Uniswap, a so-called decentralized cryptocurrency asset trading platform whose developers are headquartered in Brooklyn.” SEC’s complain.
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