{"id":460163,"date":"2023-11-27T12:25:41","date_gmt":"2023-11-27T12:25:41","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=460163"},"modified":"2023-11-27T12:25:41","modified_gmt":"2023-11-27T12:25:41","slug":"hex-founder-richard-heart-has-court-appearance-delayed-because-sec-cant-serve-him","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/hex-founder-richard-heart-has-court-appearance-delayed-because-sec-cant-serve-him","title":{"rendered":"Hex Founder Richard Heart Has Court Appearance Delayed Because SEC Can&#8217;t Serve Him"},"content":{"rendered":"<p><span style=\"font-weight: 400\">The US Securities and Exchange Commission (SEC) is struggling to serve Hex and PulseChain founder Richard Schueler, best known as Richard Heart, with a lawsuit, causing an appearance in court via teleconference to be postponed until Jan. 30 from Nov. 28.<\/span><\/p>\n<p><a href=\"https:\/\/insidebitcoins.com\/news\/hex-price-prediction-as-founder-richard-heart-teases-pulsechain-launch\"><span style=\"font-weight: 400\">Schueler<\/span><\/a><span style=\"font-weight: 400\">, who resides in Helsinki, Finland, has been accused of raising more than $1 billion in unregistered securities offerings since the end of 2019. The SEC has also <a href=\"https:\/\/insidebitcoins.com\/news\/sec-sues-hex-founder-richard-heart-for-alleged-fraud-says-he-used-gains-to-buy-sports-cars-black-diamond\">said<\/a> that he misappropriated investor assets and defrauded investors.&nbsp;<\/span><\/p>\n<h3>Richard Heart Used Money To Fund Lavish Lifestyle<\/h3>\n<p><span style=\"font-weight: 400\">He also allegedly spent the proceeds lavishly on luxury cars, designer clothes, and a black diamond dubbed The Enigma.<\/span><\/p>\n<p><img decoding=\"async\" src=\"https:\/\/www.cryptotimes.io\/wp-content\/uploads\/2023\/08\/SEC_charges_Richard_Heart_with_1B_Unregistered_Security_Offering.jpg\" alt=\"SEC Sues Richard Heart Over $1B Unregistered Security\"><\/p>\n<p><span style=\"font-weight: 400\">The SEC requested in August that the Ministry of Justice of Finland serve the lawsuit to Schueler, according to a recent <\/span><a href=\"https:\/\/storage.courtlistener.com\/recap\/gov.uscourts.nyed.501047\/gov.uscourts.nyed.501047.10.0.pdf\"><span style=\"font-weight: 400\">filing<\/span><\/a><span style=\"font-weight: 400\">. Since then, however, the SEC has not received confirmation that the founder has been served.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Magistrate Judge Peggy Kuo is overseeing the case for the Eastern District of New York. <\/span><\/p>\n<p><span style=\"font-weight: 400\">The Eastern District claimed jurisdiction because &ldquo;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 Brooklyn,&rdquo; according to the <\/span><a href=\"https:\/\/www.coindesk.com\/policy\/2023\/07\/31\/us-sec-sues-richard-heart-hex-pulsechain-on-unregistered-securities-fraud-allegations\/\"><span style=\"font-weight: 400\">SEC&rsquo;s<\/span><\/a><span style=\"font-weight: 400\"> complaint.<\/span><\/p>\n<h3><span style=\"font-weight: 400\">Related Articles:<\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400\"><a href=\"https:\/\/insidebitcoins.com\/news\/bitcoin-price-surges-to-18-month-high-of-38200-while-bitcoin-etf-token-blasts-past-1-57m-on-fomo\"><span style=\"font-weight: 400\">Bitcoin Price Climbs To 18-Month High of $38,200 While Bitcoin ETF Token Blasts Past $1.57m On FOMO<\/span><\/a><\/li>\n<li style=\"font-weight: 400\"><a href=\"https:\/\/insidebitcoins.com\/news\/next-cryptocurrency-to-explode-monday-27-november-meme-kombat-axie-infinity-maker\"><span style=\"font-weight: 400\">Next Cryptocurrency to Explode Monday, 27 November &ndash; Meme Kombat, Axie Infinity, Maker<\/span><\/a><\/li>\n<li style=\"font-weight: 400\"><a href=\"https:\/\/insidebitcoins.com\/news\/grayscale-bitcoin-trust-faces-2-7-billion-outflow-threat-on-bitcoin-etf-conversion-that-may-trigger-severe-bitcoin-price-drop-jpmorgan\"><span style=\"font-weight: 400\">Grayscale Bitcoin Trust Faces $2.7 Billion Outflow Threat On Bitcoin ETF Conversion That May Trigger Severe Bitcoin Price Drop: JPMorgan<\/span><\/a><\/li>\n<\/ul>\n                                        <div class=\"inContentProviderSingle inContentColor--insidebitcoins fc-row\">\n                        <div class=\"inContentProviderSingle--wrapper\">\n                            <div class=\"container\">\n                                <div class=\"row mb-lg-3\">\n                                    <div class=\"col-12 col-md-8\">\n                                        <p class=\"inContentProviderSingle--title\">Most Searched Crypto Launch - 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