Interpol Issues Red Notice to Hex Founder Richard Heart

Richard Schueler, widely known as Richard Heart, the founder of Hex cryptocurrency, has been placed on Interpol’s global wanted list through a Red Notice.

Issued at the request of Finnish authorities, it follows allegations of tax fraud and assault in the country.

Tax Fraud and Assault Charges

The Red Notice is a formal request to law enforcement agencies worldwide to locate and provisionally arrest an individual pending extradition, surrender, or similar legal actions. However, it does not constitute an international arrest warrant.

Earlier this year, Heart was also featured on the European Union’s Most Wanted List for the same charges. Finnish authorities allege that he committed tax fraud between 2020 and 2024, with a remand order first issued against him on September 13, 2024.

“For the purpose of avoiding tax, Schueler failed to observe a statutory duty pertaining to taxation that is of significance in the assessment of tax,” read the tax fraud allegation.

The authorities claim that the 45-year-old failed to file business tax returns for multiple years and omitted information about his income in pre-filled personal returns.

They allege that he received income from business activities that should have been declared to the tax administration for assessment, with the total amount of dues avoided reaching hundreds of millions of euros.

In a separate case, Schueler is also wanted in Finland for allegedly assaulting a minor.

Schueler Defends Legacy Amid Interpol Notice

While the accused has not directly addressed the Red Notice, in a December 22 post on X, he seemed to reference the situation indirectly, challenging his ‘haters’ and highlighting his philanthropic efforts.

“Why settle for being wanted when you can be the most wanted?” read the post, referencing his claimed $27 million contributions to medical research, self-help books, and P2P publishing software.

He emphasized his belief in his positive impact, expressing that he strives to ‘make the world a better place’ despite feeling that those who make a difference often face unkindness.

Meanwhile, the Hex creator is also involved in a legal battle with the U.S. Securities and Exchange Commission (SEC). In 2023, the regulator sued him, accusing him of unregistered securities sales and fraudulent activities. The agency alleges that Heart conducted an unsanctioned sale of cryptocurrency securities that raised over $1 billion.

He is accused of promoting Hex as a “blockchain certificate of deposit” between December 2019 and November 2020. Further, he is said to have promised high returns and attracted $678 million in investments, but the token’s value later dropped by 98.4% from its peak.

The SEC also claims Heart raised $354 million for PulseChain, supposedly for development, but used the funds for personal luxuries. In January 2024, he filed a motion to dismiss the case, which the financial watchdog opposed, arguing it failed to address the allegations or meet legal standards.