SEC Struggles to Serve Lawsuit to Richard Heart
The US Securities and Exchange Commission (SEC) is facing difficulties in serving a lawsuit to Richard Schueler, also known as Richard Heart, the founder of Hex and PulseChain. As a result, the court appearance scheduled for November 28 has been postponed until January 30. Schueler currently resides in Helsinki, Finland.
Accusations Against Richard Heart
Richard Heart has been accused by the SEC of conducting unregistered securities offerings and raising over $1 billion since the end of 2019. The regulatory body also alleges that he misappropriated investor assets and defrauded investors.
Lavish Lifestyle and Misuse of Funds
In addition to the aforementioned accusations, Richard Heart is said to have spent the raised funds on luxury cars, designer clothes, and even purchased a black diamond called “The Enigma.”
Hot Take: SEC Faces Hurdles in Serving Lawsuit to Richard Heart
The US SEC is encountering obstacles in delivering a lawsuit to Richard Heart, the founder of Hex and PulseChain. The court appearance has been delayed due to this issue. Heart has been accused of multiple offenses including unregistered securities offerings and misappropriation of funds. He is also alleged to have used the raised money for personal indulgences such as luxury cars and designer clothing. The SEC’s struggle to serve the lawsuit further complicates the legal proceedings against Heart.
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