Finnish police confiscated over $2,6 million in luxury watches belonging to Hex founder Richard Shueler.
Finland’s National Broadcaster Yleisradio Oy Shueler is wanted by the authorities for tax evasion across Finland. Yesterday, (Yle), reported that Shueler’s local police seized twenty luxury watches from him. 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 created Hex, which is a cryptocurrency that’s marketed as high-yield. "blockchain certificate of deposit." United States Securities and Exchange Commission is currently investigating the token for possible unregistered security. Schueler has also been accused of misusing 12 million dollars on luxury items and misleading returns.
Interpol (the world’s biggest international law enforcement group) had requested Schueler be arrested in late December over accusations of assault and tax fraud. A man has reportedly been arrested. “physically assaulted a 16-year-old victim by grabbing their hair, dragging them into the stairwell, and knocking them to the ground.”
Some of the watches had been purchased in Finland while others in the United States. Harri Saaristola said the intelligence services helped the police track down the items.
Hex is not a securities, according to the U.S. SEC. In a statement, it notes the tokens’ value dropped by 98.4% compared to its previous peak. In the summer 2023, Schueler, PulseChain and PulseX were charged.
"Heart began marketing Hex in 2018, claiming it was the first high-yield 'blockchain certificate of deposit,' and began promoting Hex tokens as an investment designed to make people 'rich,'" reads the SEC's complaint. He filed a motion for dismissal this summer. He claimed that he had raised more than $1 billion in unregistered security sales related to Hex.
Stacy Elliott edited this article.