{"id":40671,"date":"2025-04-23T12:00:15","date_gmt":"2025-04-23T09:00:15","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=40671"},"modified":"2025-04-23T11:17:50","modified_gmt":"2025-04-23T08:17:50","slug":"sec-wont-refile-fraud-case-against-richard-heart","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/sec-wont-refile-fraud-case-against-richard-heart\/","title":{"rendered":"SEC Won\u2019t Refile Fraud Case Against Richard Heart!"},"content":{"rendered":"

The U.S. Securities and Exchange Commission (SEC)<\/strong> has announced it will not refile its fraud case against Richard Schueler<\/strong>, better known as Richard Heart<\/strong>, founder of Hex<\/strong>. In an April 21 letter to Judge Carol Bagley Amon<\/strong>, SEC attorney Matthew Gulde<\/strong> stated: \u201cThe Commission does not intend to file an amended complaint in this matter.\u201d<\/em><\/p>\n

\n

You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!<\/a><\/em><\/strong><\/p>\n

\n

The case was previously dismissed on February 28<\/strong>, after Judge Amon ruled that Heart\u2019s activities were not explicitly targeted at U.S. investors<\/strong>, thus falling outside the SEC\u2019s jurisdiction.<\/p>\n

\"SEC\"<\/p>\n

Heart Declares Victory Over SEC<\/h2>\n

Heart took to X (formerly Twitter)<\/strong> on April 22<\/strong> to announce that HEX<\/strong>, PulseChain<\/strong>, and PulseX<\/strong> had fully defeated the SEC. He described the case dismissal as a major win for open-source software<\/strong>, cryptocurrency<\/strong>, and free speech<\/strong>, noting that \u201cthe SEC actually sued software code itself in this case.\u201d<\/p>\n

The SEC originally sued Heart in July 2023<\/strong>, alleging he raised over $1 billion<\/strong> through unregistered securities offerings<\/strong> via HEX<\/strong>, PulseChain (PLS)<\/strong> and PulseX (PLSX)<\/strong>.<\/p>\n

Despite Interpol issuing a Red Notice<\/strong> for Heart in December 2024<\/strong>, and allegations of tax evasion in Finland<\/strong>, the case has now been dropped without further filings\u2014marking one of the rare complete losses for the SEC in crypto litigation.<\/p>\n

\n

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0Telegram,\u00a0<\/strong><\/a>YouTube<\/strong><\/a>,\u00a0and\u00a0Twitter<\/strong><\/a>\u00a0channels for the latest\u00a0news<\/a>\u00a0and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The U.S. Securities and Exchange Commission (SEC) has announced it will not refile its fraud case against Richard Schueler, better known as Richard Heart, founder of Hex. In an April 21 letter to Judge Carol Bagley Amon, SEC attorney Matthew Gulde stated: \u201cThe Commission does not intend to file an amended complaint in this matter.\u201d<\/p>\n","protected":false},"author":28,"featured_media":36997,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,657,2],"tags":[14741,11317,14739,847,6033,2937,13042,14737,302,2938,14740,2935,2936,8096,39,14736,14738,5970],"class_list":["post-40671","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-en","category-news","tag-crypto-and-free-speech","tag-crypto-lawsuit","tag-crypto-legal-win","tag-crypto-news","tag-crypto-regulation","tag-hex","tag-interpol-red-notice","tag-jurisdiction","tag-open-source","tag-pls","tag-plsx","tag-pulsechain","tag-pulsex","tag-richard-heart","tag-sec","tag-software-code-lawsuit","tag-u-s-court-crypto","tag-unregistered-securities"],"yoast_head":"\nSEC Won\u2019t Refile Fraud Case Against Richard Heart! - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/sec-wont-refile-fraud-case-against-richard-heart\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SEC Won\u2019t Refile Fraud Case Against Richard Heart! - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"The U.S. Securities and Exchange Commission (SEC) has announced it will not refile its fraud case against Richard Schueler, better known as Richard Heart, founder of Hex. 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