A US court has dismissed the lawsuit filed by the Securities and Exchange Commission (SEC) against the founder of HEX, Richard Heart (real name Richard Schueler), who was accused of raising over $1 billion through unregistered cryptocurrency offerings and defrauding investors.
Judge's Decision: No US Jurisdiction
Judge Carol Bagley Amon ruled that the charges could not proceed in the US as the SEC failed to prove that Heart's crypto activities were under US jurisdiction. The judge noted that Heart's actions were global in scale and not specifically targeting US investors.
HEX Price Surge
Following the court's ruling, the price of several cryptocurrencies associated with Richard Heart surged significantly. According to CoinMarketCap, the HEX token rose by 75%, as well as other tokens like PULSEchain.
Richard Heart’s Legal Issues in Finland
Despite the dismissal in the US, Richard Heart faces legal issues in Finland, including tax evasion charges and assault. An Interpol Red Notice has been issued against him.
The case against Richard Heart in the US is closed, but the SEC retains the option to revisit the charges. Heart's legal challenges remain unresolved in other countries, including Finland.
