LAHORE MIRROR — The US Securities and Exchange Commission made an announcement on Monday, stating that Youtuber Richard Heart and three of his entities have been accused of conducting unregistered offerings of crypto asset securities, raising over $1 billion, and misusing millions of dollars from investor funds.
Richard Heart and his entity, PulseChain, are facing fraud charges for allegedly misappropriating at least $12 million from the offering proceeds. The funds were allegedly used to purchase luxury items, including sports cars, watches, and a 555-carat black diamond known as The Enigma, according to the commission’s statement.
The three entities involved in the charges are Hex, PulseChain, and PulseX. The SEC is taking action against them in response to the alleged misconduct related to the unregistered offerings and misuse of investor funds.
Source: REUTERS
