U.S. Court Dismisses SEC Case Against Richard Heart

Judge Rules Against SEC Jurisdiction

A federal judge has dismissed the Securities and Exchange Commission (SEC) lawsuit against Richard Heart, the founder of Hex, PulseChain, and PulseX. The court ruled that the SEC failed to prove jurisdiction over Heart, who is based in Finland.

SEC Allegations and Court Findings

The SEC accused Heart of running unregistered crypto offerings, raising over $1 billion, manipulating transactions, and misusing investor funds for luxury purchases. However, the judge determined that his online activities did not specifically target U.S. investors, making the SEC’s case invalid.

SEC Allowed to Amend Complaint

The court has given the SEC 20 days to revise its complaint and address the jurisdictional issues. Meanwhile, Interpol has issued a Red Notice for Heart, requesting global law enforcement agencies to locate and arrest him. However, this notice is not a formal arrest warrant, and countries can decide whether to act on it.