An American federal judge rejected a lawsuit against the Securities and Stock Exchange Committee against Richard Hart, the founder of Hex, Pulsechain and Pulsex, and decided that the agency was lacking in the jurisdiction.
While this decision is a temporary victory for the founder, the organizational agency has 20 days to amend its complaints and try to re -create the case.
Court rules against the Supreme Education Council on judicial foundations
The Securities and Stock Exchange was accused of raising more than one billion dollars through unregistered securities offers and poorly dominated at least $ 12 million to finance luxury purchases, including expensive cars, hours and even the largest black diamonds in the world.
However, Judge Carol Bajali Amon eliminated that the agency had failed to show a strong legal relationship between American heart activities and investors.
Richard Hart’s legal problems are not over yet
Hart, an American citizen residing in Finland, marketed his projects primarily through online platforms. The judge decided that his promotional efforts did not specifically target American investors, but were widely available around the world.
Since the Supreme Education Council did not provide clear evidence that the founder was holding an activity with investments within the United States, the court rejected the case for judicial reasons. The ruling also highlighted that the Hex symbols were not included in the US -based exchanges, which weakens the agency’s argument.
While the heart won this round, the battle may not end. The Supreme Education Council still has the opportunity to amend its complaint and try to re -create the case, provided that it is established stronger judicial claims. If the agency is able to prove that the founder’s activities have a direct and significant impact on American investors, the lawsuit can be revived.
Many expect the agency to back down from its follow -up, given the changing policies and recent decisions to withdraw issues against Consnsys, Robinhood and many other major encryption companies.
Besides legal problems, the founder faces increasing legal issues elsewhere. The Finnish authorities accused him of widespread tax evasion, with estimates of up to hundreds of millions of euros. In addition, it is required for the alleged assault, which leads to a red notice for his arrest. In a recent development, the implementation of the Finnish law seized nearly $ 2.6 million of luxury watches associated with the founder.
