Richard Schueler, known in the crypto community as Richard Heart, is currently under investigation by Finnish authorities for serious allegations of tax evasion and assault.
As the founder of Hex and PulseChain, Schueler is accused of failing to pay taxes amounting to hundreds of millions of euros from June 2, 2020, to April 2, 2024. The Helsinki police, in collaboration with international agencies, have issued a remand order for Schueler, who has not yet been located.
The inquiry into Schueler’s finances began when Finland’s Tax Administration identified discrepancies between his reported income and their assessments, which indicated substantial undeclared earnings. His reported income for 2023 exceeds €15.2 million; however, the tax evasion allegations do not specifically involve capital gains.
In addition to the tax evasion charges, Schueler is being investigated for an alleged assault that occurred between February 16 and 17, 2021. Although he resides in Helsinki, his current whereabouts remain unclear. Recently, he tweeted that he is “doing great.”
The case is also linked to ongoing investigations by U.S. authorities. Schueler is facing accusations from the U.S. Securities and Exchange Commission (SEC), which, in the summer of 2023, charged an individual with raising over $1 billion through unregistered cryptocurrency offerings. This individual was also accused of defrauding investors out of $12.1 million, funds reportedly spent on extravagant items, including the world’s largest black diamond. The SEC claims that these investments were marketed as pathways to substantial wealth.
Finnish authorities, led by Detective Saaristola, are scrutinizing the launch and promotion of Hex and PulseChain cryptocurrencies. These suspicions arose after a request from the Finnish Tax Administration to investigate Schueler. Detective Saaristola remarked that the criminal investigation is still in its preliminary stages and involves cooperation with international partners.
Both investigations are in their early phases, requiring complex international coordination to address the financial and criminal allegations against Schueler.
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