Richard Heart defeats the SEC A U.S. district court judge has dismissed the Securities and Exchange Commission’s (SEC) lawsuit against Richard Heart. Judge Carol Bagley Amon ruled that the allegations against Heart lack a connection to the United States.
Heart is known for founding the HEX token, the PulseX trading platform, and the PulseChain blockchain. The SEC initiated legal action against him in July 2023, claiming that the three tokens—Hex (HEX), PulseChain (PLS), and PulseX (PSLX)—were unregistered securities. The commission also accused Heart of misusing $12.1 million of investor funds to indulge in luxury items like sports cars, Rolex watches, and the world’s largest black diamond.
“The alleged misappropriation occurred through digital wallets and crypto asset platforms, none of which were alleged to have any connection with the United States,”
“Case dismissed. Thank you Judge Amon,”
Heart is an American citizen who has been living in Finland for several years. He faces serious charges there, including income tax evasion amounting to hundreds of millions of dollars from June 2020 to April 2024, as well as an assault charge from September. Reports suggest that the tax issues are connected to the launch of certain tokens, while the assault charge stems from an incident involving a minor in February 2021.
Finnish police suspect that he has left the country, and in December, an Interpol red notice was issued for him. In January, authorities in Finland confiscated 20 luxury watches from a third party that allegedly belonged to Heart.
All the while the law enforcement has searched for him, Heart has maintained a presence on social media. “If the haters really wanted to get me down they could raise more than the GETTEX:27M I did for medical research. Write free self help books better than my sciVive and Fix The World. Work in the courts for legal precedent for P2P publishing software. Found things that work flawlessly and become valuable,” he wrote on X in December.
