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Judge Dismisses Case Against Crypto Entrepreneur over 555ct. Black Diamond

Summary by rapaport.com

A federal judge dismissed a lawsuit the US Securities and Exchange Commission (SEC) filed, alleging crypto entrepreneur Richard Heart used misappropriated investor funds to purchase a 555-carat black diamond. The suit, which the SEC first filed in August 2023, accused Heart — who was born Richard Schueler and who created the Hex cryptocurrency token — of committing fraud by raising more than $1 billion through unregistered cryptocurrency offeri…

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Judge Dismisses Case Against Crypto Entrepreneur over 555ct. Black Diamond

A federal judge dismissed a lawsuit the US Securities and Exchange Commission (SEC) filed, alleging crypto entrepreneur Richard Heart used misappropriated investor funds to purchase a 555-carat black diamond. The suit, which the SEC first filed in August 2023, accused Heart — who was born Richard Schueler and who created the Hex cryptocurrency token — of committing fraud by raising more than $1 billion through unregistered cryptocurrency offeri…

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rapaport.com broke the news in 6 days ago on Sunday, March 9, 2025.

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