Interpol Issues Red Notice to Hex Crypto founder Richard Heart

Richard Heart in the documentary film "The Highest of Stakes." Photo: Muse Storytelling

Interpol has issued an arrest warrant for Hex founder Richard Schueler on tax fraud and assault charges.

Interpol has issued a red notice to Schueler (better known as Richard Heart in crypto circles) as soon as it became aware of his whereabouts. “request to law enforcement worldwide to locate and provisionally arrest a person pending extradition, surrender, or similar legal action.” The organization clarifies that a “red notice” isn’t an international arrest warrant.

Byron Boston is the former Dallas Police Officer and CEO of Crypto Track. Decrypt The Interpol Red Notice is a reflection of the increasing collaboration between countries to combat criminal activity tied to cryptocurrency such as tax fraud and fraud.

This notice promotes international collaboration” Boston added, “It signals the intent of law enforcement to hold cryptocurrency founders responsible for any financial misconduct. This will increase scrutiny on projects.”

Schueler founded Hex, a cryptocurrency marketed as a high-yield "blockchain certificate of deposit," with his token being investigated as potential unregistered securities. Schueler is accused of misusing $12 million on luxury goods and promoting unrealistic returns.

The SEC alleges that Hex fails the Howey Test, qualifying it as a security, and notes that its token value has plummeted 98.4% from its peak. The regulator charged Schueler in the summer of 2023 along with three unincorporated entities: PulseChain, PulseX, and Hex.

"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. 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.

Shueler has also found himself on Europe’s most wanted fugitives list, where more details concerning his alleged crimes are listed. According to the listing, he allegedly “The attacker physically attacked a victim aged 16 by grabbing his hair, pulling him into the staircase, and knocking him to the floor.”

He is also being investigated for tax evasion between June 2020 April 2024. According to Finnish public broadcaster Yle, the notice comes just three months after a remand order was issued for Shueler in September.

Shueler continues to be active on Twitter. He shared an article on Saturday that addressed his “haters” and claimed that “Success makes people angrier.” Over 263,000 people have viewed the post.

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“I try my hardest to make this world a more beautiful place.” he wrote, “”I must admit, people who are trying to make a change can face a lot of hardships.”

Andrew Hayward edited the book

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