In major win for Hex’s Richard Heart, SEC dismisses lawsuit

Richard Heart, founder of Hex, PulseChain, and PulseX, also known as Richard Schueler, secured a major victory on Friday after U.S. Securities and Exchange Commission (SEC) dismissed a lawsuit against him.

Heart posted a couple of tweets on X (formerly Twitter), appreciating federal judge Bagley Amon for dismissing the SEC’s case that was filed against him alongside mentioning about a major win for cryptocurrency and Donald Trump’s vision for the USA.

U.S. securities regulators lost their lawsuit at federal court last Friday after attempting to prove that an online professional raised above $1 billion through unregistered cryptocurrency investments which led investors to give $12.1 million for luxe items from a black diamond to private jets.

Amon, the federal judge in Brooklyn decided to dismiss the SEC’s 2023 lawsuit against US citizen Richard Heart as his alleged conduct showed no connection to the United states while residing in Finland. 

Despite living in Finland for consecutive years, Heart remains as an American citizen. In Finland, he faced hundreds of millions of dollars in income tax fraud allegations in addition to an assault case that was published in September. According to the local media, Heart was charged with taxes related to his token launch operations. Heart was charged with assault for his actions against a minor in February 2021. 

The court ruled that all fraudulent transactions involving investor funds as described in the complaint took place exclusively outside American borders. Judge Amon wrote that the reported fund misappropriation took place on crypto asset platforms along with digital wallets which maintained no ties to the United States.

The spokesperson for Heart explained to the press that the court’s decision which favored the founder of cryptocurrencies along with his related projects brought encouraging benefits for cryptocurrency markets.