Finnish
Police Seize Luxury Watches
Worth $2.6 Million From
Hex Founder
RichardHeart
Finnish Police Seize Luxury Watches Worth $2.6 Million From Hex Founder
Richard Heart
The goods—worth a total of $2.68 million—were left in a residence in Espoo.
By Adrian Zmudzinski
Jan 8, 2025 Jan 8, 2025
2 min read
Source: Shutterstock
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Finnish police seized over $2.6 million worth of luxury watches from Hex
founder Richard Shueler (also known as Richard Heart.)
Finland’s national broadcaster Yleisradio Oy (Yle) reported yesterday that
local law enforcement seized 20 luxury watches (most of which were Rolexes)
from Shueler, who is wanted for tax evasion nationwide. The goods—worth a
total of $2.68 million—were left in a residence in Espoo, according to a
translated copy of the report.
Schueler founded Hex, a cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта marketed as a high-yield "blockchain• Информационные технологии » Информационно-коммуникационные технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн
• Высокие технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн
certificate of deposit." The United States Securities and Exchange• Экономика » Финансы » Финансовое регулирование » Органы финансового регулирования » Комиссия по ценным бумагам и биржам США
• Объект организация » Организации по алфавиту » Организации на Ко » Комиссия по ценным бумагам и биржам США Commission
(SEC• Экономика » Финансы » Финансовое регулирование » Органы финансового регулирования » Комиссия по ценным бумагам и биржам США
• Объект организация » Организации по алфавиту » Организации на Ко » Комиссия по ценным бумагам и биржам США) is investigating his token as potential unregistered securities.
Schueler is also accused of misusing $12 million on luxury goods and promoting
unrealistic returns.
The watch seizure news follows late December reports that Interpol, the
world’s largest international law enforcement organization, issued an arrest
request for Schueler over tax fraud and assault accusations. The man
reportedly “physically assaulted a 16-year-old victim by grabbing their hair,
dragging them into the stairwell, and knocking them to the ground.”
Many of the watches were purchased in Finland, while others were acquired in
the United States. Harri Saaristola, the detective in charge of investigating
Shueler, said that the police were able to track the goods through
intelligence services.
The U.S. SEC• Экономика » Финансы » Финансовое регулирование » Органы финансового регулирования » Комиссия по ценным бумагам и биржам США
• Объект организация » Организации по алфавиту » Организации на Ко » Комиссия по ценным бумагам и биржам США alleges that Hex fails the Howey Test, qualifying it as a
security. It notes that its token value has plummeted 98.4% from its peak. The
regulator charged Schueler and three unincorporated entities, PulseChain,
PulseX, and Hex, in the summer of 2023.
"Heart began marketing Hex in 2018, claiming it was the first high-yield
'blockchain• Информационные технологии » Информационно-коммуникационные технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн
• Высокие технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн certificate of deposit,' and began promoting Hex tokens
as an investment designed to make people 'rich,'" reads the
SEC• Экономика » Финансы » Финансовое регулирование » Органы финансового регулирования » Комиссия по ценным бумагам и биржам США
• Объект организация » Организации по алфавиту » Организации на Ко » Комиссия по ценным бумагам и биржам США's complaint. This summer, he filed a motion to dismiss the case,
alleging that he raised over $1 billion through unregistered securities sales
linked to his Hex startup.
Edited by Stacy Elliott .
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