Key Points
- Interpol has issued a “Red Notice” for Richard James Schueler (aka Richard Heart), the founder of Hex and PulseChain, following Finland’s request for his arrest on charges of tax fraud involving hundreds of millions of euros and the alleged assault of a minor.
- Schueler is simultaneously facing a $1 billion lawsuit from the U.S. Securities and Exchange Commission over allegations of selling unregistered crypto securities through his projects Hex, PulseChain, and PulseX.
International Law Enforcement Action
Interpol, the world’s largest international police organization, has issued a Red Notice for cryptocurrency entrepreneur Richard James Schueler, better known as Richard Heart, at the request of Finnish authorities. The notice, while not an international arrest warrant, serves as a global request for law enforcement agencies to locate and provisionally arrest Schueler.
The charges stem from allegations of massive tax evasion between June 2, 2020, and April 2, 2024. According to Finnish authorities, Schueler failed to file business tax returns for multiple years and omitted crucial income information on his personal tax returns, with the total amount of evaded taxes estimated in the hundreds of millions of euros.
Assault Allegations and Criminal Charges
Adding to the tax fraud charges, Europol’s most wanted list details disturbing allegations of assault against Schueler. According to the European law enforcement agency, Schueler is accused of physically assaulting a 16-year-old victim by grabbing their hair, dragging them into a stairwell, and repeatedly punching them in the face, nose, eyes, and head area, causing injuries including bleeding and swelling.
Legal Challenges Mount
The Red Notice, which was likely issued when Schueler was added to Europol’s list on December 18, comes amid mounting legal troubles for the cryptocurrency founder. The U.S. Securities and Exchange Commission has filed a separate $1 billion lawsuit against Schueler, alleging he conducted unregistered offerings of three crypto tokens: Hex, PulseChain (PLS), and PulseX (PSLX). While Schueler attempted to dismiss the SEC lawsuit in August, the regulatory body maintained its authority to pursue the case.
In response to the recent developments, Schueler has remained active on social media, making cryptic statements that appear to reference his legal situation. “It feels great to be wanted. Nothing can stop an idea whose time has come,” he posted on X (formerly Twitter). He has also continued to defend his projects, stating that they are “functioning wonderfully” despite the opposition from various “entities.”
