Judge Dismisses SEC Lawsuit Against Crypto Founder Richard Heart ⚖️
A U.S. federal judge has dismissed the Securities and Exchange Commission's (SEC) lawsuit against Richard Heart, also known as Richard Schueler, a crypto founder accused of raising over $1 billion through unregistered crypto offerings. The SEC alleged that Heart misused $12.1 million on luxury items and falsely marketed cryptocurrencies like Hex, PulseX, and PulseChain as high-return investments.
Judge Carol Bagley Amon ruled that the SEC failed to establish sufficient connections between Heart's alleged misconduct and the United States, leading to the dismissal of the case.
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