SEC sues entrepreneur around $1 billion in unregistered crypto product sales and multi-million-greenback fraud

SEC sues entrepreneur around billion in unregistered crypto product sales and multi-million-greenback fraud

Critical Details

Richard Schueler, also known as Richard Heart, defrauded traders out of millions by way of his Hex cryptoasset, the SEC alleged.
Schueler employed proceeds from the $1 billion provide-and-sale to purchase high-finish watches, true estate, and jewels.
Schueler faces three civil expenses in the Eastern District of New York.

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