US charges Youtuber Richard Heart with fraud related to unregistered crypto offerings
2023.07.31 11:22
© Reuters. FILE PHOTO: Signage is seen at the headquarters of the U.S. Securities and Exchange Commission (SEC) in Washington, D.C., U.S., May 12, 2021. Picture taken May 12, 2021. REUTERS/Andrew Kelly/File Photo
(Reuters) – The U.S. Securities and Exchange Commission on Monday said it has charged Youtuber Richard Heart and three of his entities with conducting unregistered offerings of crypto asset securities that raised more than $1 billion and misappropriating millions of dollars of investor funds.
The SEC charged Heart and his PulseChain entity with fraud for misappropriating at least $12 million of offering proceeds to purchase luxury goods including sports cars, watches and a 555-carat black diamond known as The Enigma, the commission said in a statement.
The three entities charged by the SEC are Hex, PulseChain, and PulseX.
