{"id":26546,"date":"2023-12-13T03:09:18","date_gmt":"2023-12-13T03:09:18","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/sec-serves-suit-to-evasive-richard-heart-in-finland-but-not-in-person\/"},"modified":"2023-12-13T03:09:22","modified_gmt":"2023-12-13T03:09:22","slug":"sec-serves-suit-to-evasive-richard-heart-in-finland-but-not-in-person","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/sec-serves-suit-to-evasive-richard-heart-in-finland-but-not-in-person\/","title":{"rendered":"SEC serves suit to evasive Richard Heart in Finland, but not in person"},"content":{"rendered":"
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The United States Securities and Exchange Commission said it served its lawsuit to HEX founder Richard Schueler \u2014 aka Richard Heart \u2014 at his house in Finland\u2019s capital of Helsinki.<\/p>\n

In a Dec. 11 New York District Court filing, the SEC said it served Heart through substitute service on Oct. 31 \u2014 an alternative for when a suit can\u2019t be personally delivered to the defendant typically due to difficulties in locating them.<\/p>\n

The process server said they made several failed attempts over nearly seven weeks starting Sept. 13 to personally serve Heart through calls, texts, letters, and attempts to reach him in person at his Helsinki residence.<\/p>\n

TSEC’s notice of service to Heart. Source: CourtListener<\/em><\/figcaption><\/figure>\n

The SEC sued Heart in July, alleging he made over $1 billion selling Hex, PulseChain (PLS), and PulseX (PSLX), which the agency claimed were unregistered securities.<\/p>\n

It also claimed Heart defrauded investors in the U.S. and overseas by misappropriating at least $12 million of their funds to buy a \u201c555-carat diamond, expensive watches, and high-end automobiles.\u201d<\/p>\n

In an early November status report to the court, the SEC said it could not find Heart since Aug. 22 to serve its suit despite knowing he was somewhere in Helsinki <\/p>\n

Related: <\/em><\/strong>Terra co-founder Do Kwon will stay in Montenegro until February: Report<\/em><\/strong><\/p>\n

While Heart has kept his whereabouts closely guarded, it hasn\u2019t stopped him from remaining active online.<\/p>\n

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First you’ll see #Binance<\/a> company indictment. https:\/\/t.co\/0ev9gruw6t The previous tweet was the personal CZ indictment.<\/p>\n

\u2014 Richard Heart (@RichardHeartWin) November 21, 2023<\/a><\/p><\/blockquote>\n

Since the SEC\u2019s Nov. 21 status report, Heart has made over 40 X (Twitter) posts, concerning current crypto-related events such as Binance\u2019s settlement with the Department of Justice in November, Sam Bankman-Fried\u2019s trial, and updates on Do Kwon.<\/p>\n

HEX is down 81.5% over the past year and 99% since its Sept. 19, 2021, all-time high of $0.5, per CoinGecko data.<\/p>\n

Magazine: <\/em><\/strong>Crypto City Guide to Helsinki: 5,050 Bitcoin for $5 in 2009 is Helsinki\u2019s claim to crypto fame<\/em><\/strong><\/p>\n