SEC suits the founder of Hex Richard Hart – Bits Media

The United States Securities and Exchange Commission intends to prove in court, that the founder of the Hex project violated US laws on securities and abused the confidence of investors for selfish purposes.

SEC accused the creator of the Hex tokens Richard Hart (Richard Heart), Also known as Internet marketer Richard Schuler (Richard Schueler), and three organizations controlled by him, Hex, PulseChain и PulseX, In an unregistered offer in the securities market.

The proposals were made through Hex tokens, which were sold to investors as a “deposit certificate” based on the Ethereum blockchain, The officials assure. SEC claims, that the annual income in 38%, Which was advertised by Schuler, was nothing more than covering a financial pyramid (Ponzi's schemes).

According to the regulator, As a result of illegal actions, Richard Hart attracted more from investors $1 billion.

“Hart repeatedly advertised investments in Hex tokens as a path to incredible wealth. He affirming, that hex is created, to become the most valuable asset, which has ever existed in the history of mankind. Although Hart claimed, which attracts investment to support freedom of speech, He did not report, that I used these means for personal enrichment purposes, maintaining a status lifestyle and the acquisition of luxury items ", - says in the SEC lawsuit.

The commission accused the entrepreneur of fraud and illegal assignment $12 Milln for the purchase of luxury items, Including sports cars, watches and the largest black diamond in the world weighing 555 Karrat The Enighma.

Earlier, the US Securities and Exchange Commission presented
QuantStAMP charges of conducting an ICO unauthorized by the regulator and put up penalties in the amount of $3,5 million.