SEC sues crypto influencer for allegedly buying sports cars and a rare black diamond with investor funds
by Emma Roth from The Verge - All Posts on (#6DE32)
Image: Richard Heart via YouTube Crypto influencer Richard Heart is facing a lawsuit from the Securities and Exchange Commission over claims he used at least" $12 million in proceeds from his crypto products to buy luxury products. That includes the purchase of sports cars, luxury watches, and a 555-carat black diamond called The Enigma - supposedly the largest in the world.
Heart was born in the US and currently lives in Finland. He has operated a YouTube channel since 2017, where he promotes his own crypto products, including the Hex token and its sister product PulseChain, which operates on the PulseX protocol.
In its lawsuit, the SEC alleges Heart raised over $1 billion through his unregistered Hex, PulseChain, and PulseX crypto securities. According to the SEC,...