{"id":43090,"date":"2023-08-01T12:08:32","date_gmt":"2023-08-01T16:08:32","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/sec-charges-hex-founder-richard-heart-of-crypto-theft-to-fund-4-million-enigma-diamond-purchase\/"},"modified":"2023-08-01T12:08:34","modified_gmt":"2023-08-01T16:08:34","slug":"sec-charges-hex-founder-richard-heart-of-crypto-theft-to-fund-4-million-enigma-diamond-purchase","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=43090","title":{"rendered":"SEC charges Hex founder Richard Heart of crypto theft to fund $4 million \u2018Enigma\u2019 diamond purchase"},"content":{"rendered":"
\n

The Securities and Exchange Commission on Monday charged Richard Heart, founder of the crypto projects Hex and PulseChain, with unregistered sale of more than $1 billion in crypto asset securities and the theft of $12 million of those funds to purchase a series of luxury goods. <\/p>\n

The SEC alleges that Heart\u2019s sale of Hex tokens was an unregistered securities sale, while a separate creation, PulseX was an unregistered securities exchange that featured a native token, PulseChain, that was also an unregistered security. <\/p>\n

\n

The complaint says that between August 2021 and September 2022, Heart \u201cmisappropriated at least $12.1 million\u201d of PulseChain investor assets \u201cto fund his purchases of luxury goods, including cars and watches.\u201d<\/p>\n

Heart allegedly spent $534,916 on a McLaren sports car, $314,125 on a \u201cwhite Ferrari Roma,\u201d and more than $1 million in total on three Rolex watches. <\/p>\n

The complaint alleges that he spent $4.28 million on a 555-carat black diamond called \u201cThe Enigma,\u201d which is \u201cpurportedly the largest black diamond in the world,\u201d and did so with misappropriated PulseChain investor assets. <\/p>\n

\u201cHeart called on investors to buy crypto asset securities in offerings that he failed to register. He then defrauded those investors by spending some of their crypto assets on exorbitant luxury goods,\u201d said Eric Werner, Director of the SEC\u2019s Fort Worth Regional Office, in a statement. \u201cThis action seeks to protect the investing public and hold Heart accountable for his actions.\u201d<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The Securities and Exchange Commission on Monday charged Richard Heart, founder of the crypto projects Hex and PulseChain, with unregistered sale of more than $1 billion in crypto asset securities and the theft of $12 million of those funds to purchase a series of luxury goods. The SEC alleges that Heart\u2019s sale of Hex tokens […]<\/p>\n","protected":false},"author":1,"featured_media":43091,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-43090","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nSEC charges Hex founder Richard Heart of crypto theft to fund $4 million \u2018Enigma\u2019 diamond purchase | iFintechWorld<\/title>\n<meta name=\"description\" content=\"The Securities and Exchange Commission on Monday charged Richard Heart, founder of the crypto projects Hex and PulseChain, with unregistered sale of more\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=43090\" \/>\n<meta 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