The U.S. Securities and Exchange Commission (SEC) said it had served the indictment at the home of HEX founder Richard Schueler (aka Richard Heart) in Helsinki, the capital of Finland.
In a Dec. 11 filing in New York District Court, the SEC said the commission served the indictment on Richard Schueler Oct. 31 with alternative service. In the nearly seven weeks that began on Sept. 13, the subpoenas said they had made several unsuccessful attempts to serve the subpoena in person on Heart by phone, text message, letter, and in person at their residence in Helsinki.
The SEC sued Heart in July, alleging that he made more than $1 billion from the sale of Hex, PulseChain (PLS) and PulseX (PSLX), which the SEC claims are unregistered securities. It also claimed that Heart had defrauded U.S. and overseas investors of at least $12 million in money to buy "555-carat BCD, expensive watches, and high-end cars."
In a status report filed with the court in early November, the S.E.C. said it had not been able to locate Heart to serve the lawsuit since Aug. 22, despite knowing that he was somewhere in Helsinki.