HEX Founder Richard Heart Faces Tax Evasion Trial in Finland
CryptoNewsTerminal Staff18 Sep, 2024
HEX Founder Richard Heart Faces Tax Evasion Trial in Finland
The founder of the cryptocurrency project HEX, Richard Heart, is currently on trial in Finland for tax evasion. According to Finnish media reports, Heart is accused of committing tax evasion while living in Helsinki between February 2020 and April 2024. This is not the first time that Heart has faced legal troubles. In 2022, the US Securities and Exchange Commission (SEC) investigated Heart and charged him with securities fraud and the sale of unregistered securities. The SEC alleged that Heart had used money raised from investors to purchase luxury watches, cars, and diamonds. The outcome of the tax evasion trial in Finland is still pending. However, if Heart is convicted, he could face a significant prison sentence. The HEX project has been controversial since its launch in 2019. Critics have accused the project of being a Ponzi scheme, and Heart has been criticized for his aggressive marketing tactics. Despite the controversy, HEX has a large and loyal following. The project's native token, HEX, has a market capitalization of over $1 billion.
