Finnish police have confiscated luxury watches valued at over $2.6 million from Richard Schueler, known as Richard Heart, founder of the cryptocurrency HEX. Schueler is wanted in Finland for alleged tax evasion and assault.
Details of the Seizure
Authorities seized 20 high-end watches, primarily Rolexes, from a property in Espoo, Finland, according to a report by the Finnish national broadcaster Yleisradio Oy (Yle) on January 7. The collection’s total value—$2.68 million—was determined through a combination of receipts and expert appraisals.
Some of the watches were purchased in Finland, while others were acquired in the United States. The Finnish police located the items during an investigation, utilizing their own intelligence resources.
Background on the Allegations
Richard Schueler was detained in Finland on September 13, 2023, amid accusations of tax fraud and assault but was later released, and authorities have since been unable to locate him.
- Tax Evasion: Schueler is accused of evading taxes between June 2, 2020, and April 2, 2024, with tax arrears estimated at several hundred million euros. Finnish authorities reported his 2023 income as €15.2 million ($16.9 million).
- Assault Allegations: The accusations include physically assaulting a 16-year-old in February 2021. According to reports, he allegedly grabbed the victim’s hair, dragged them into a stairwell, and knocked them down.
Interpol issued a “Red Notice” for Schueler on December 22, and he is also listed among Europe’s most wanted fugitives.
Ongoing Legal Troubles
Schueler is not only wanted in Finland. In July 2023, the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against him, alleging that the tokens HEX, PulseChain (PLS), and PulseX (PSLX) were unregistered securities. The SEC claimed the projects raised over $1 billion, with some funds allegedly misappropriated for luxury purchases, including a 555-carat diamond, luxury vehicles, and expensive watches.
Despite being on the run, Schueler remains active on social media platforms like X (formerly Twitter) and YouTube, where he continues to promote HEX and engage with his followers.
