HEX’s controversial founder Richard Hart has argued for a complete victory over the US SEC after years of court battles.
On April 21, the SEC said it would not refill the fraud case against the former child actor and the code evangelical. The court dismissed the SEC’s fraud charges against heart on February 28th.
Heart announced that Hex has won. “We’ve seen Richard Heart, Pulsechain, Pulsex and Hex have completely beaten the SEC and achieved regulatory clarity with few other coins.”
Hex may be coming out of hot water along with US securities regulators (for now), but the heart is still accused of Europe, hoping for both suspicion of tax fraud and assault on a minor.
Sec claimed that Heart used Hex to fraudulent investors
In July 2023, the SEC filed a complaint against Hart. His real name is Richard James Schuler, and Pulsex was submitted by Hex, Hex’s Layer 1 Blockchain Project, Pulsex, and the Decentralized Exchange (DEX) of Pulsex.
The SEC has filed numerous claims, including securities fraud and securities registration violations. It asked the court to ban his project and his mind from participating in providing crypto asset security of any kind, and to waive “all unfair interests received as a result of alleged violations.”
The complaints noted the repeated claims of the mind that Hex can provide incredible rewards to enrich investors. Heart also wrote that it spent more than $1.6 million in revenue on luxury items such as watches, sports cars and 555 carat diamond rings.
Certainly, the mind is not someone who doesn’t know the finer details of life. His celebrity is partly attributed to his frequent displays of wealth. In one video for X, he flaunted the Louis Vuitton case, saying that the case, filled with dozens of luxury watches, is worth 9 million euros.
Hart’s trial came to jurisdiction. Last year, his legal team filed a motion to dismiss the lawsuit on the ground that the SEC failed to show that any activity occurred in the United States.
The SEC protested the motion. U.S. District Judge Carol Bagley Amon agreed with his heart (the founder of HEX does not live in the United States), and she ruled that the HEX price statement was aimed at a global audience, not a US investor.
“The allegations of false use occurred through digital wallets and cryptocurrency platforms, but none of them were said to have anything to do with the US,” Amon said.
Finnish authorities want their hearts for tax and assault charges
Hart argues that this legal victory provides a new foundation for the crypto industry to flourish, creating a legal precedent for Hex to tackle more securely than any other crypto project.
The heart and hexagon may not face American securities regulators, but he is still in hot water with Finnish authorities over alleged tax evasion and assault.
https://www.youtube.com/watch?v=9xsis104ymu
In September 2024, Finnish media wrote that Hart, who is reportedly resident in Helsinki, was detained for absenteeism. Finnish investigators reportedly were investigating the heart at the request of the country’s tax authorities and found that the heart income report did not match the tax service estimate.
Detective Hari Saaristole of Helsinki Police said: “There is a basis for doubting total tax evasion based on the very substantial amount of the issue and the long-term and planned nature of the activity.”
Related: hex founder Richard Hart’s Interpol is “Red Notification”
During their investigation, Finnish police seized millions of euros worth of luxury watches from a residence in Espoo near Helsinki.
Europol also said that the mind (called Schueler in the report) is required to assault minors. “Schuler physically assaulted the 16-year-old victim by grabbing her hair, dragging her into the stairwell and knocking her to the ground.”
The allegations earned him a profile on Europol and Interpol’s most wanted crime list. An investigation is underway.
How long can the hex maintain it?
The heart appears to have dodged US regulations because the SEC had no jurisdiction and not evidence. So how long can he continue hexing?
Industry observers and analysts have long argued that HEX is a new form of the Ponzi scheme. That is to say, it comes from the promise of a whopping 38% annual yield, greater profits for onboarding new users, and the fact that the heart owns around 90% of the HEX token.
Despite the many committed acolites on social media, all tokens seem dead. Hex prices have been temporarily raised over the news of SEC firing. Zooming out, it has hardly moved since the start of mental legal issues that began with the SEC.
At the time of publication, the Hex priced at $0.002,253. The 24-hour trading volume is barely above $250,000.
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