SEC Finally Serves Hex Founder Richard Heart with Lawsuit Alleging Fraud The United States Securities and Exchange Commission (SEC)
has finally served Helsinki-based cryptocurrency developer Richard Heart with a lawsuit filed in July, according to a new court document. According to court documents,
the SEC had been attempting to serve Schueler for over two months. The latest court filing reveals that Heart (real last name Schueler)
was served using a substitute service on October 31st in Helsinki, meaning the SEC was unable to physically deliver the lawsuit to Heart in person. The substitute service, in accordance with Finnish law,
provides an alternative means of delivery for defendants who are hard to track down.
“The multiple attempts of contacting Mr. Schueler (using different methods) over a period lasting nearly seven weeks have given ample time for a response from Mr. Schueler,” SEC attorney Matthew Gulde stated.
Heart has been laying
low since this past summer when the SEC filed the lawsuit against the crypto developer, alleging that he misappropriated millions in offerings and violated federal
law through the sale of unregistered currencies.
