A district court judge has removed the US Securities Regulator’s lawsuit accusing hex founder Richard Heart raising more than $ 1 billion by unregistered crypto offerings and deceptive investors of $ 12.1 million.
The heart, whose real name is Richard Schueler, is also accused of spending allegedly stealing funds on expensive items – including the world’s largest black diamond.
However, Judge Carol Bagley Amon said the alleged fraudulent actions could not decide because the Securities and Exchange Commission failed to establish that the US had jurisdiction over heart crypto activities – that he said global in the scope and not specifically -targeting US investors.
“The alleged abuse has occurred through digital wallets and crypto asset platforms, none of the alleged connection to the United States,” Amon Says In the February 28th of the court’s decision.
“Until the complaint shows that the heart has not occurred investor funds through fraudulent mixer transactions, those actions have taken place outside the United States,” Amon added.
Crypto tokens said by the SEC are not registered security with Pulchain (Pls), Pulsex (Plsx) and Hex (Hex) – which increased around 36%, 67%and 78%, respectively, because Amon made the verdict.
Heart identified The winning that a Case in court related to security Over the SEC is rare, added that he is now relieved to see the wrists and hex coins have evolved.
“The hex has been running flawlessly for more than 5 years. The decision now in favor of a cryptocurrency founder and his SEC projects brings welcome comfort and opportunity to all cryptocurrencies,” Says In a post Feb. 28 x.
Eight of the schueller watches were kidnapped by Finnish authorities. Source: Police of Finland
However, Amon said the SEC could change the “deficiency” found in its complaint by refiling within the next 20 days (on March 20).
Related: Gotbit Founder extradited us to deal with market manipulation, fraud charges
In addition to buying “The Enigma” —a 555-Crat Black Diamond worth 3.16 million British Pounds ($ 3.97 million)-Securities Regulator also accused investors’ funds worth $ 3.02 million between August 3, 2021, and September 2022.
The heart, a US citizen who is believed to be living in Finland, is not completely out of legal problem.
On September 13, 2024, Finnish authorities Remanded heart in caution Following allegations of tax fraud and attack. However, the associated authorities could not find him.
A few months later on December 22, Interpol released a red notice for the heart based on the same allegations.
Finnish authorities are, however, able to seize $ 2.6 million worth of watches that he is believed to be abandoned.
Eight of the heart watches were obtained by the authorities in Finnish. Source: Police of Finland
While authorities are still not looking for a heart, he remains active on social media, continuing to advance his cryptocurrencies to X and upload videos to his YouTube channel.
