In summary
- Interpol issues a red notice for Richard Schueler, founder of Hex, accused of fraud, tax evasion and financial crimes related to cryptocurrencies.
- The SEC alleges that Hex is an unregistered security and that Schueler used $12 million for luxury goods, promoting unrealistic returns.
- Schueler, also investigated in Europe for tax evasion and physical assault, remains active on social networks, dismissing the accusations.
Interpol, the world’s largest international law enforcement organization, issued its red notice to Richard Schueler, founder of the Cryptocurrency Hex, better known in crypto circles as Richard Heart, as a “request to law enforcement to around the world to locate and provisionally arrest a person pending extradition, surrender or similar legal action. However, it is just a request, and the organization explains that “a red notice is not an international arrest warrant.”
Byron Boston, former Dallas police officer and CEO of crypto firm Crypto Track, told Decrypt that “Interpol’s Red Notice reflects growing international collaboration to address criminal activity linked to cryptocurrencies, such as fraud and tax evasion.” .
“The notice encourages international cooperation,” Boston added, “and signals law enforcement’s intention to hold crypto founders accountable for financial misconduct, increasing scrutiny on the projects.”
Schueler founded Hex, a cryptocurrency marketed as a high-yield “Blockchain certificate of deposit,” with its token being investigated as possible unregistered securities. Schueler is accused of misusing $12 million in luxury goods and promoting unrealistic returns.
The SEC alleges that Hex fails the Howey Test, classifying it as a security, and notes that its token value has fallen 98.4% from its peak. The regulator charged Schueler in the summer of 2023 along with three unincorporated entities: PulseChain, PulseX and Hex.
“Heart began marketing Hex in 2018, claiming it was the first high-yield ‘blockchain certificate of deposit,’ and began promoting Hex tokens as an investment designed to make people ‘rich,'” the complaint reads. the SEC. This summer, he filed a motion to dismiss the case, alleging that he raised more than $1 billion through sales of unregistered securities tied to his startup Hex.
Shueler has also been found on Europe’s most wanted fugitives list, detailing more details about his alleged crimes. According to the listing, he allegedly “physically assaulted a 16-year-old victim by grabbing her by the hair, dragging her to the stairs, and knocking her down.”
He is also being investigated for tax evasion between June 2020 and April 2024. According to Finnish public broadcaster Yle, the notice comes just three months after an arrest warrant was issued for Shueler in September.
Shueler is still active on Twitter. On Saturday, he shared a post directed at his “haters” and stated that “nothing makes haters more angry than success.” So far, the post has received more than 263,000 views.
“I really do my best to make the world a better place,” he wrote, “and I must say, the world can be pretty nasty to people who make a difference.”
Edited by Andrew Hayward
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