The SEC is having a hard time supporting Hex and PulseChain founder Richard Schueler, best known as Richard Heart, as he sues him for allegedly selling unregistered securities.
According to recent filings, the SEC asked Finland’s Ministry of Justice in August to serve the lawsuit on Schueller, who lives in Helsinki, but the SEC has not yet heard of the lawsuit.
Magistrate Judge Peggy Kuo, who is overseeing the case for the Eastern District of New York, postponed a teleconference originally scheduled for November 28 to January 30, 2024. According to the SEC’s complaint, the Eastern District asserted jurisdiction because “many of the cryptocurrency asset transactions described herein occurred on Uniswap, a so-called decentralized cryptocurrency trading platform whose developer is headquartered in Brooklyn.”
The SEC’s lawsuit accuses Schueller of raising more than $1 billion in unregistered securities offerings since late 2019 and spending the proceeds lavishly on luxury cars, designer clothing and a black diamond called The Enigma.
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