Interpol Issues Red Notice for Hex Founder Over Tax Fraud and Assault Allegations

Interpol has issued a “Red Notice” for Richard Schueler, widely known as Richard Heart, the founder of Hex, on allegations of tax fraud and assault.

The notice, requested by Finnish authorities, seeks Schueler’s provisional arrest but does not constitute an international arrest warrant.

The Red Notice follows a remand order issued for Schueler on September 13, according to Finnish public broadcaster Yle.

Helsinki police detective Harri Saaristola noted discrepancies between Schueler’s reported income and the Finnish tax service’s estimates, raising further concerns about potential financial misconduct.

Schueler Also Placed on Europe’s Most Wanted List

Schueler has also been placed on Europe’s most wanted fugitives list.

According to details shared there, he is accused of assaulting a 16-year-old victim by allegedly grabbing their hair, dragging them into a stairwell, and knocking them to the ground.

The allegations also include tax evasion spanning June 2, 2020, to April 2, 2024.

Despite these developments, Schueler has remained active on social media, posting comments that indirectly address the accusations.

“If the haters really wanted to get me down, they could raise more than the $27M I did for medical research,” he posted on X on December 21. “Nothing makes haters angrier than success.”

Schueler Sued by SEC

Schueler is also entangled in a separate legal battle with the U.S. Securities and Exchange Commission (SEC) over allegations of unregistered crypto offerings.

The SEC accuses him of raising over $1 billion through the sale of Hex, PulseChain (PLS), and PulseX (PSLX), marketing the tokens as lucrative investment opportunities.

“Instead of using these investor funds to develop and market the PulseChain network, or even to fulfill Heart’s explicit statement that invested funds supported ‘freedom of speech,’ Heart and PulseChain used at least $12.1 million of investor funds for Heart’s personal luxury purchases,” the SEC alleged.

The lawsuit also targeted Heart’s control of the project, his statements regarding potential increases in value, and the staking feature designed to encourage token holders to lock up their tokens in exchange for more tokens.

The SEC pointed to Heart’s previous comments claiming that Hex was built to be “the highest appreciating asset” and noted the significant decline in the price of Hex and the perceived worthlessness of tokens for the other two projects.

According to the federal agency, Heart purchased several luxury automobiles with investors’ money, including a Ferrari and McLaren sports car and numerous designer watches.

The supposed crypto scam artist further defrauded investors and bought the world’s largest black diamond, a 555-carat piece known as “The Enigma,” valued at over $4 million, from Sotheby’s in February 2022.

On August 22, Schueler sought to dismiss the lawsuit, but the SEC countered, asserting its jurisdiction to pursue the case.

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