Richard Schueler, the founder of Hex and PulseChain, better known as Richard Heart, is facing difficulties from the SEC regarding their lawsuit regarding alleged unregistered securities sales.
Although the SEC asked the Ministry of Justice of Finland to serve the lawsuit to Schueler, who lives in Helsinki, according to a recent filing, the SEC has not been notified that Schueler has received the legal notice.
The case manager for the Eastern District of New York, Magistrate Judge Peggy Kuo, has rescheduled a teleconference that was originally set for November 28 to January 30, 2024. Because “many of the crypto asset transactions described herein took place on Uniswap, a so-called decentralized crypto asset trading platform whose developers are headquartered in the Eastern District,” the Eastern District claimed jurisdiction in Brooklyn,” the SEC’s complaint states.
According to the SEC’s lawsuit, Schueler has raised over $1 billion through unregistered securities offerings since the end of 2019 and has lavishly purchased luxury vehicles, high-end clothing, and a black diamond known as The Enigma with the money.