Crypto Influencer Richard Heart Investigated for Tax Evasion

Richard Schueler, also known as Richard Heart, a prominent figure in the cryptocurrency space, is under investigation by Finnish authorities for gross tax evasion and assault.

Schueler, the founder of Hex and PulseChain, reportedly failed to pay taxes amounting to hundreds of millions of euros between June 2, 2020, and April 2, 2024. The Helsinki police, working with international authorities, have issued a remand order for Schueler, who remains at large.

The Finnish investigation into Schueler began after the Tax Administration found discrepancies between his declared income and their assessment, which showed significant undeclared income. Schueler’s official earnings in 2023 reportedly exceeded €15.2 million, though the tax evasion charges are not directly related to capital gains.  

In addition to tax charges, Schueler is also being investigated for an alleged assault that took place between 16 and 17 February 2021. Despite living in Helsinki, Schueler’s current whereabouts remain unknown. he recently tweeted, that he is “doing great.”

Source: Twitter

The case is being handled in conjunction with U.S. authorities, as Schueler is also facing accusations from the U.S. Securities and Exchange Commission (SEC).

In the summer of 2023, Reuters reported that the U.S. SEC charged an individual with raising over $1 billion through unregistered cryptocurrency offerings and defrauding investors of $12.1 million, allegedly spent on luxuries like the world’s largest black diamond. The SEC claimed the individual marketed these investments as paths to great wealth.

Finnish authorities, led by Detective Saaristola, have raised suspicions related to the launch and marketing of the Hex and PulseChain cryptocurrencies. These concerns emerged after the Finnish Tax Administration requested an investigation. Saaristola noted that the criminal probe is still in its early stages and involves cooperation with international agencies.

Both investigations are still in the early stages and involve complex international coordination to address the financial and criminal allegations.