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Crypto founder charged for embezzling investor funds in $1bn offering

A member of the Sotheby's auction house team holds the "Enigma" black diamond on February 04, 2022 in London, England.
The 55-sided, 555-carat ‘Enigma’ black diamond, said to be worth m, was one of the luxury goods investor funds were spent on. Photo: Getty Images

Martina Lindberg

1 min read
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Millions of funds were misappropriated on sports cars, watches and the largest black diamond in the world.

Richard Heart (aka Richard Schueler) and his three unincorporated entities Hex, PulseChain, and PulseX, have been charged by the SEC for orchestrating unregistered offerings of crypto asset securities that raised more than $1bn in crypto from investors.

Heart and PulseChain have also been charged with fraud for misappropriating at least

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