#BlocklikeNews The U.S. Securities and Exchange Commission (SEC) sued Richard Schueler, also known as Richard Heart, for allegedly selling unregistered securities in violation of federal securities laws. Richard Heart is the founder of Pulsechain, PulseX and Hex projects. Heart, which raised more than $1 billion by selling tokens for the projects, according to the SEC, has previously made comments suggesting Hex's value would increase. The SEC alleges that Richard Heart defrauded investors by misappropriating at least $12 million in client funds for personal purchases of luxury goods rather than developing protocols.