Finnish Police Confiscated $2.6M in Luxury Watches from Hex Founder

Finnish authorities have reportedly seized 20 luxury watches valued at $2.68 million from Hex founder Richard Schueler, known as Richard Heart.

Wanted in Finland for tax evasion and assault, Schueler left the high-end timepieces—mostly Rolexes—in a residence in Espoo.

Police determined their value using receipts and assessments from a luxury goods expert, noting that many were purchased in Finland while others came from the US.

Inspector Harri Saaristola, leading the investigation, stated that intelligence efforts led to the discovery of the abandoned collection.

Schueler's Alleged Tax Evasion and Assault Charges

Schueler is under investigation for tax evasion between 2 June 2020, and 2 April 2024, as well as assault charges stemming from an incident on 16 to 17 February 2021.

On 22 December, Interpol issued a Red Notice for his arrest, and he has been listed among Europe's most wanted fugitives.

Authorities allege that Schueler assaulted a 16-year-old, forcibly dragging them by the hair into a stairwell and knocking them to the ground.

His tax debt in Finland is estimated at several hundred million euros, with the government reporting his 2023 income at €15.2 million ($16.9 million).

Beyond Finland, Schueler faces legal action from the US Securities and Exchange Commission (SEC), which sued him in July 2023.

The SEC alleges that his companies’ tokens—Hex (HEX), PulseChain (PLS), and PulseX (PSLX)—are unregistered securities that collectively raised over $1 billion.

The lawsuit also claims Schueler misused investor funds on lavish personal purchases, including a 555-carat diamond, luxury watches, and high-end cars.

He moved to dismiss the case on 22 August, but the SEC has pushed back, reaffirming its authority to prosecute.

Schueler's Location Unknown But Active on Social Media

Finnish authorities issued a remand order for Richard Schueler on charges of tax fraud and assault on 13 September.

However, his whereabouts remain unknown.

Despite being a fugitive, Schueler maintains an active online presence, regularly promoting HEX (HEX) on X (formerly known as Twitter) and uploading videos to his YouTube channel.