International policing organization Interpol has issued a Red Notice for Richard Schueler, known in the cryptocurrency world as Richard Heart, following requests from Finnish authorities over allegations of tax fraud and assault.
The founder of cryptocurrency projects Hex and PulseChain is wanted by Finnish police for tax evasion estimated in the hundreds of millions of euros, according to Europol. The authorities claim Schueler failed to file business tax returns and provided inaccurate income information between 2020 and 2024.
In addition to the tax charges, Schueler faces accusations of assaulting a minor. Finnish authorities allege he attacked a 16-year-old, causing facial injuries and bleeding after repeatedly striking the victim.
While not directly addressing the charges, Schueler posted on social media platform X on December 21, highlighting his claimed $27 million charitable contributions and stating "Nothing makes haters angrier than success."
The Red Notice, which requests law enforcement worldwide to locate and provisionally arrest Schueler, comes amid his ongoing legal battle with the U.S. Securities and Exchange Commission (SEC). In July 2023, the SEC filed suit against Schueler over allegedly raising more than $1 billion through unregistered securities offerings of three cryptocurrencies - Hex, PulseChain, and PulseX.
The SEC lawsuit claims Schueler misappropriated at least $12 million of investor funds to purchase luxury items, including sports cars, watches, and a 555-carat black diamond known as "The Enigma."
Following news of the Red Notice, the price of Hex cryptocurrency experienced a 15% surge within 24 hours, though analysts remain uncertain about the cause of this market movement.