Invest In Crypto News
  • Home
  • Latest News
    • Bitcoin News
    • Altcoin News
    • Ethereum News
    • Blockchain News
    • Doge News
    • NFT News
    • Video
    • Market Analysis
    • Business
    • Finance
    • Politics
    • Mining
    • Regulation
    • Technology
  • Top 10 Cryptos
  • Market Cap List
  • IC DAO
  • Donations
  • Contact
  • Buy Crypto
  • IC DAO
No Result
View All Result
Invest In Crypto News
  • Home
  • Latest News
    • Bitcoin News
    • Altcoin News
    • Ethereum News
    • Blockchain News
    • Doge News
    • NFT News
    • Video
    • Market Analysis
    • Business
    • Finance
    • Politics
    • Mining
    • Regulation
    • Technology
  • Top 10 Cryptos
  • Market Cap List
  • IC DAO
  • Donations
  • Contact
  • Buy Crypto
  • IC DAO
No Result
View All Result
Invest In Crypto News
No Result
View All Result

US judge tosses SEC fraud suit against Hex founder Richard Heart

CryptoExpert by CryptoExpert
March 1, 2025
in Business
0
US judge tosses SEC fraud suit against Hex founder Richard Heart
  • Facebook
  • Twitter
  • Pinterest


You might also like

DeepSeek seeks $300M in first outside funding at $10B valuation

SEC Commissioner Calls for Permanent Broker Rule Overhaul Reflecting Modern Crypto Market Realities

FATF Calls for Rapid Global Crypto Standards Rollout as Cross-Border Enforcement Gaps Raise Systemic Risks

A district court judge has dismissed the US securities regulator’s lawsuit accusing Hex founder Richard Heart of raising over $1 billion through unregistered crypto offerings and defrauding investors of $12.1 million.

Heart, whose real name is Richard Schueler, was also accused of spending those allegedly stolen funds on luxury items — including the world’s largest black diamond.

However, Judge Carol Bagley Amon said those alleged deceptive acts couldn’t be decided on as the Securities and Exchange Commission failed to establish that the US had jurisdiction over Heart’s crypto activities — which she said were global in scope and not specifically targeted at US investors.

“The alleged misappropriation occurred through digital wallets and crypto asset platforms, none of which were alleged to have any connection with the United States,” Amon said in the Feb. 28 court ruling.

Betfury

“To the extent the Complaint shows that Heart misappropriated investor funds through deceptive mixer transactions, those actions occurred entirely outside of the United States,” Amon added.

The crypto tokens that the SEC alleged were unregistered securities included PulseChain (PLS), PulseX (PLSX) and HEX (HEX) — which have increased around 36%, 67% and 78%, respectively, since Amon made the verdict.

Heart acknowledged that winning a securities-related court case over the SEC was rare, adding that he is now relieved to see the Pulse and Hex coins flourish.

“HEX has operated flawlessly for over 5 years. Today’s decision in favor of a cryptocurrency founder and his projects over the SEC brings welcome relief and opportunity to all cryptocurrencies,” Heart said in a Feb. 28 X post.

Eight of Schueler’s watches were seized by Finnish authorities. Source: Finland Police

Amon, however, stated that the SEC can amend the “deficiencies” found in its complaint by refiling within the next 20 days (by March 20).

Related: Gotbit founder extradited to US to face market manipulation, fraud charges

In addition to purchasing “The Enigma” — a 555-carat black diamond costing 3.16 million British pounds ($3.97 million) — the securities regulator also accused Heart of spending investor funds on McLaren and Ferrari sports cars and four Rolex watches costing $3.02 million between August 3, 2021, and September 2022.

Heart, a US citizen believed to be living in Finland, isn’t entirely out of legal trouble.

On Sept. 13, 2024, Finnish authorities remanded Heart into custody following allegations of tax fraud and assault. However, the relevant authorities have been unable to locate him.

A few months later on Dec. 22, Interpol issued a Red Notice for Heart based on the same allegations.

Finnish authorities were, however, able to seize around $2.6 million worth of watches that he is believed to have abandoned.

Eight of Heart’s watches were seized by Finnish authorities. Source: Finland Police

While authorities are still unable to locate Heart, he remains active on social media, continuing to promote his cryptocurrencies on X and upload videos to his YouTube channel.

Magazine: How crypto laws are changing across the world in 2025



Source link

  • Facebook
  • Twitter
  • Pinterest
CryptoExpert

CryptoExpert

Recommended For You

DeepSeek seeks $300M in first outside funding at $10B valuation

by CryptoExpert
April 19, 2026
0
DeepSeek seeks $300M in first outside funding at $10B valuation

DeepSeek is seeking its first outside funding round at a valuation of at least $10 billion, according to a report by The Information. The Chinese AI startup is...

Read more

SEC Commissioner Calls for Permanent Broker Rule Overhaul Reflecting Modern Crypto Market Realities

by CryptoExpert
April 19, 2026
0
SEC Commissioner Calls for Permanent Broker Rule Overhaul Reflecting Modern Crypto Market Realities

Key Takeaways: SEC Commissioner favors a more permanent approach to defining broker rules in crypto markets. Guidance from SEC limits when crypto interfaces must register as broker-dealers. Outlook...

Read more

FATF Calls for Rapid Global Crypto Standards Rollout as Cross-Border Enforcement Gaps Raise Systemic Risks

by CryptoExpert
April 19, 2026
0
FATF Calls for Rapid Global Crypto Standards Rollout as Cross-Border Enforcement Gaps Raise Systemic Risks

Key Takeaways: FATF increased pressure on jurisdictions to enforce crypto standards faster. Stablecoins face sharper scrutiny as illicit finance risks grow. Jurisdictions could face tougher accountability if gaps...

Read more

Ripple CEO Says CLARITY Act Window Is Open and Now Is the Moment to Act

by CryptoExpert
April 18, 2026
0
Ripple CEO Says CLARITY Act Window Is Open and Now Is the Moment to Act

Key Takeaways: Garlinghouse said the industry is closer than ever to securing U.S. crypto clarity. Garlinghouse suggested Washington may be nearing a compromise as frustration builds. SEC and...

Read more

Bitcoin Rally Above Range Highs Continues To Stall: Here’s Why

by CryptoExpert
April 18, 2026
0
Bitcoin Rally Above Range Highs Continues To Stall: Here’s Why

Establishing a strong Bitcoin (BTC) uptrend in 2026 remains a challenge, as exchange-traded fund (ETF) flows have shown limited growth since peaking above $60 billion in 2025.At the...

Read more
Next Post
Shiba Inu SHIB

Shiba Inu To Benefit Big From Ethereum’s Pectra Upgrade

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Browse by Category

  • Altcoin News
  • Bitcoin News
  • Blockchain News
  • Business
  • Doge News
  • Ethereum News
  • Finance
  • Market Analysis
  • Mining
  • NFT News
  • Politics
  • Regulation
  • Technology
  • Trending Cryptos
  • Video

Sitemap

  • Market Cap
  • Donations
  • Trading
  • Mining
  • Contact

Legal Information

  • Privacy Policy
  • Anti-Spam Policy
  • Copyright Notice
  • DMCA Compliance
  • Social Media Disclaimer
  • Terms Of Service

Categories

  • Altcoin News
  • Bitcoin News
  • Blockchain News
  • Business
  • Doge News
  • Ethereum News
  • Finance
  • Market Analysis
  • Mining
  • NFT News
  • Politics
  • Regulation
  • Technology
  • Trending Cryptos
  • Video

© Copyright 2024 InvestInCryptoNews.com

No Result
View All Result
  • Home
  • Latest News
    • Bitcoin News
    • Altcoin News
    • Ethereum News
    • Blockchain News
    • Doge News
    • NFT News
    • Video
    • Market Analysis
    • Business
    • Finance
    • Politics
    • Mining
    • Regulation
    • Technology
  • Top 10 Cryptos
  • Market Cap List
  • IC DAO
  • Donations
  • Contact
  • Buy Crypto
  • IC DAO

© Copyright 2024 InvestInCryptoNews.com

This website is using cookies to improve the user-friendliness. You agree by using the website further.

Privacy policy
bitcoin
Bitcoin (BTC) $ 74,765.00
ethereum
Ethereum (ETH) $ 2,286.90
tether
Tether (USDT) $ 1.00
xrp
XRP (XRP) $ 1.42
bnb
BNB (BNB) $ 622.88
usd-coin
USDC (USDC) $ 0.999785
solana
Solana (SOL) $ 85.16
tron
TRON (TRX) $ 0.32958
figure-heloc
Figure Heloc (FIGR_HELOC) $ 1.04
staked-ether
Lido Staked Ether (STETH) $ 2,265.05

Pin It on Pinterest

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?