CryptoSlate
İhlas News Agency (IHA) reported that HEX and PulseChain founder Richard Heart and his wife were detained in Istanbul’s Beşiktaş district on October 14. The report linked the operation to an Interpol Red Notice requested by Finland and said police seized cash, jewelry, watches, electronic devices and firearms.
Why it matters
The Finnish suspicions date to 2024, when police reportedly suspected Heart, whose legal name is Richard James Schueler, of gross tax evasion and assault. He was remanded in custody in absentia on September 13 that year, according to Finnish broadcaster Yle. The allegations remain allegations, not a finding of guilt.
An Interpol Red Notice asks national police to locate and temporarily detain a person while legal processes are pursued. It is not an international arrest warrant: each country decides how to act under its own laws. The reported Istanbul detention does not establish that Heart will be extradited to Finland.
Market impact
The case brings renewed legal scrutiny to the founder of HEX and PulseChain, but the report does not establish a direct market effect on either project. The seizure list is reported by IHA and does not determine whether any property was linked to an alleged offense.
Heart’s separate U.S. civil securities case is distinct. The SEC’s allegations in that case included unregistered crypto offerings involving Heart, HEX, PulseChain and PulseX. A federal judge dismissed the complaint on February 28, 2025, citing deficiencies in personal jurisdiction and the pleaded U.S. transactions or conduct while allowing the SEC an opportunity to amend. That ruling did not decide the Finnish suspicions. IHA reported the investigation was continuing.
Frequently asked questions
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Why was Richard Heart reportedly detained in Istanbul?
IHA linked the October 14 detention to an Interpol Red Notice requested by Finland. Finnish police reportedly suspected Heart of gross tax evasion and assault.
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Does an Interpol Red Notice mean Heart has been convicted?
No. A Red Notice asks police to locate and temporarily detain a person while legal processes are pursued. It is not a finding of guilt or an international arrest warrant.
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Does the reported detention mean Heart will be extradited to Finland?
No. Countries decide how to act under their own laws, and the report does not establish that an extradition has occurred or will take place.
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What did reports say police seized during the Istanbul operation?
IHA reported seizures of cash, gold jewelry, watches, electronic devices and firearms. The reported findings do not establish a link between the property and any alleged offense.
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Did the dismissal of the SEC case decide the Finnish allegations?
No. The U.S. civil case was dismissed in February 2025 over deficiencies in jurisdiction and the pleaded U.S. conduct, with the SEC allowed to amend. The ruling did not decide the Finnish suspicions.
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