US judge dismisses SEC fraud suit against Hex founder Richard Heart.

From Cointelegraph

February 28, 2025 11:34:21 PM:

A district court judge dismissed the SEC’s lawsuit against Hex founder Richard Heart for raising $1 billion through unregistered offerings and defrauding investors of $12.1 million. The judge stated the SEC failed to prove jurisdiction over Heart’s global crypto activities, which included PulseChain, PulseX, and HEX tokens. Heart expressed relief and optimism for his projects after the ruling.

The SEC can refile within 20 days to address the “deficiencies” found in its complaint. Heart was accused of spending stolen funds on luxury items like a 555-carat black diamond, McLaren and Ferrari sports cars, and Rolex watches. Finnish authorities seized $2.6 million worth of watches believed to have been abandoned by Heart.

Heart, a US citizen living in Finland, faces legal issues for tax fraud and assault allegations. Despite Finnish authorities remanding him into custody in 2024 and Interpol issuing a Red Notice, they have been unable to locate him. Heart remains active on social media, promoting his cryptocurrencies and uploading videos to his YouTube channel.

Read more at Cointelegraph: US judge tosses SEC fraud suit against Hex founder Richard Heart