- Richard Schueler, the founder of Hex and PulseChain, is now the focus of criminal investigations in Finland for severe tax evasion and assault.
- Investigations led by Finnish police suggest Schueler owes the country several hundred million euros in unpaid taxes over multiple years.
- Schueler was remanded in custody in absentia on September 13, with his current whereabouts remaining unknown to authorities.
Richard Schueler, founder of Hex and PulseChain, is under investigation in Finland for significant tax evasion and assault, with several hundred million euros at stake. Learn more about the unfolding case.
Finnish Authorities Investigate Crypto Founder for Major Tax Evasion
According to a report by YLE on September 17, Richard Schueler—also known by the aliases Richard Heard and Richard Heart—is currently under investigation by Finnish police for gross tax evasion and assault. The investigation, initiated following a request from the Finnish Tax Administration, indicates that Schueler has potentially evaded hundreds of millions of euros in taxes. Discrepancies between Schueler’s tax returns and the Tax Administration’s income assessment triggered the inquiry.
Questionable Income Reporting and Legal Imbroglio
Detective Harri Saaristola from the Helsinki police has stated that Schueler is assumed to have underreported his income, leading to a substantial tax liability. The suspected tax evasion period extends from June 2, 2020, to April 2, 2024. Additionally, the assault charge against Schueler dates back to February 16-17, 2021. Despite these serious allegations, Schueler’s current location remains a mystery, even after he was remanded in custody in absentia on September 13.
Connection to U.S. Securities and Exchange Commission Cases
The Finnish investigation comes on the heels of similar scrutiny from the U.S. Securities and Exchange Commission (SEC). Last summer, the SEC charged Schueler with raising over $1 billion through three unregistered cryptocurrency offerings and defrauding investors of $12.1 million. Finnish authorities suggest that Schueler’s marketing activities for his cryptocurrency projects, Hex and Pulse, originated from Finland and extended internationally.
Broader Implications and International Cooperation
The ongoing investigations highlight significant cross-border regulatory challenges in the cryptocurrency sphere. The alleged offenses not only bring attention to Schueler’s personal activities but also to the broader regulatory environment governing digital assets. The Finnish Tax Administration’s pursuit of justice underscores the increasing vigilance of international regulators in combating fraudulent activities related to cryptocurrency markets.
Conclusion
The ongoing legal and regulatory battles surrounding Richard Schueler underscore the intricate landscape of international cryptocurrency regulation. While the outcomes of these investigations remain uncertain, they serve as a stark reminder of the importance of compliance and transparency within the evolving crypto industry. Investors and market participants are well-advised to remain vigilant and thoroughly vet their engagements in an increasingly scrutinized digital economy.
