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Zenger
Zenger
National
Murtuza Merchant

SEC Files Lawsuit Against Richard Heart, Alleging $1 Billion Unregistered Securities Offering

SEC HEX Lawsuit Crypto Luxury
Hex Founder Richard Heart Charged by SEC for Raising $1B Through Unregistered Securities. Heart allegedly used at least $12 million of the funds raised to purchase luxury items, including high-end cars, watches, and a 555-carat black diamond known as The Enigma. COVER ART/ILLUSTRATION VIA CRYPTOSLATE.

The U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against Richard Heart and his cryptocurrency projects, including Hex, PulseChain and PulseX.

Heart, also known as Richard Schueler, raised more than $1 billion through the sale of unregistered securities, the SEC claims. Heart allegedly used at least $12 million of the funds raised to purchase luxury items, including high-end cars, watches, and a 555-carat black diamond known as “The Enigma.”

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