- Interpol issues red notice for Richard Schueler (Richard Heart) for tax fraud and assault allegations.
- SEC charges against Hex founder include $12 million misuse and alleged securities violations.
- Hex cryptocurrency has declined 98.4% from its peak value.
- European authorities list Schueler on most wanted fugitives database.
- Investigation covers tax evasion period from June 2020 to April 2024.
Interpol has issued a red notice for cryptocurrency founder Richard Schueler, known professionally as Richard Heart, amid accusations of tax fraud and assault. The notice requests global law enforcement agencies to locate Schueler, though it does not constitute an international arrest warrant.
Legal Challenges Mount
The SEC’s investigation into Schueler centers on his cryptocurrency project Hex, marketed as a "blockchain certificate of deposit." Regulators allege the founder misappropriated $12 million for luxury purchases while promoting unrealistic returns to investors.
The cryptocurrency faces scrutiny under the Howey Test – a legal framework determining if an asset qualifies as a security. According to SEC filings, three associated entities face charges:
- PulseChain
- PulseX
- Hex
Criminal Allegations Expand
Beyond financial impropriety, Schueler has been added to Europe‘s most wanted list following assault allegations involving a minor. Finnish broadcaster Yle reports authorities issued a remand order in September 2024.
Former Dallas police officer Byron Boston, now CEO of Crypto Track, stated: "The Interpol Red Notice reflects increasing international collaboration to address criminal activities tied to cryptocurrency, such as fraud and tax evasion."
Despite mounting legal pressure, Schueler maintains an active social media presence. In a recent Twitter post, he defended his record, citing contributions to medical research and authoring self-help materials. The post garnered over 263,000 views, with Schueler stating: "I really do the best I can to make the world a better place."
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