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Richard Heart

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cryptocurrency2 years ago•2 min saved

SEC Charges Hex Founder Richard Heart with Misappropriating Millions in Unregistered Crypto Offering

The Securities and Exchange Commission (SEC) has charged Richard Heart and his entities, Hex, PulseChain, and PulseX, with conducting unregistered offerings of crypto asset securities that raised over $1 billion from investors. Heart is also accused of misappropriating at least $12 million of the funds for personal luxury purchases. The SEC alleges that Heart marketed Hex as a high-yield investment and conducted unregistered offerings of Hex tokens. He later orchestrated two additional unregistered offerings for PulseChain and PulseX. The SEC seeks injunctive relief, disgorgement of ill-gotten gains, penalties, and other equitable relief.

via SEC.gov|

#cryptocurrency #fraud #misappropriation

finance2 years ago•1 min saved

SEC Files Lawsuit Against Richard Heart and Hex for Unregistered Securities and Fraud

The U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against internet marketer Richard Heart and his projects Hex, PulseChain, and PulseX, alleging that he raised over $1 billion through unregistered securities offerings and defrauded investors by using their funds for personal expenses. The SEC claims that Heart touted these investments as a pathway to wealth but failed to disclose his personal use of investor funds. Heart and his projects are charged with fraud and securities registration violations.

via CoinDesk|

#finance #fraud-allegations #hex