YEREVAN (CoinChapter.com) — Finnish police seized luxury watches worth $2.6 million from Richard Schueler, also known as Richard Heart, the founder of cryptocurrency Hex (HEX). Schueler is wanted in Finland for alleged tax fraud and assault charges.
The seizure included 20 luxury watches, predominantly Rolexes, discovered in a residence in Espoo, Finland. According to the national broadcaster Yleisradio Oy (Yle), the total value of the confiscated items was based on receipts and evaluations by a luxury goods expert. Reports confirmed that many of these watches were purchased in Finland, while some originated from the United States.
Source: Finland PoliceInspector Harri Saaristola, leading the investigation, revealed that authorities identified the abandoned watches through intelligence operations.
Allegations of Tax Fraud and Assault
Schueler is accused of tax evasion spanning from June 2, 2020, to April 2, 2024. Finnish authorities estimate that his unpaid taxes amount to several hundred million euros. Records also show that his declared income in 2023 was €15.2 million ($16.9 million).
In addition to tax-related allegations, Schueler faces assault charges related to an incident on Feb. 16 and 17, 2021. The charges claim he assaulted a 16-year-old victim, allegedly dragging them by their hair, knocking them down, and physically attacking them in a stairwell.
On Dec. 22, 2024, Interpol issued a Red Notice for Schueler. He is also listed among Europe’s most wanted fugitives, with detailed accusations published by authorities.
Richard Schueler Wanted Notice. Source: EUMOSTwantedSocial Media Activity Despite Legal Troubles
Although Schueler remains wanted, he continues to actively engage on social media platforms. He frequently promotes Hex (HEX) on X and uploads content to his YouTube channel. Finnish authorities, however, have not been able to determine his current whereabouts.
Richard Heart Promotes HEX Letter Contest. Source: RichardHeartWinSEC Lawsuit Adds to Richard Heart (Schueler)’s Legal Challenges
In addition to Finnish charges, Schueler faces legal action from the U.S. Securities and Exchange Commission (SEC). The SEC filed a lawsuit in July 2023, accusing him of issuing unregistered securities through three tokens: Hex (HEX), PulseChain (PLS), and PulseX (PSLX). These tokens reportedly raised over $1 billion.
The SEC also alleged that Schueler misused investor funds for personal purchases. Among these acquisitions were a 555-carat diamond, luxury watches, and high-value cars.
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