Richard Heart Arrested in Istanbul on Interpol Red Notice for Alleged Tax Evasion and Crimes
Key Summary
Richard Heart, the founder of HEX, has been arrested in Istanbul on an Interpol Red Notice for alleged tax evasion and other crimes in Finland. The arrest marks the growing regulatory pressure on the cryptocurrency industry, and raises concerns about the potential for further arrests and market impact.
Background Context
Richard Heart, the founder of HEX, was arrested in Istanbul after being wanted by Finland under an Interpol Red Notice for alleged tax evasion and other crimes.\n\n
Arrest Details
The arrest took place at an address police had been monitoring in the Beşiktaş district, according to İhlas News Agency (IHA). Heart and his wife, identified in the report as A.K., were taken into custody on October 14.\n\n
Investigation
The investigation concerning Heart and his wife was continuing, according to IHA. The agency linked the police operation to an Interpol Red Notice requested by Finland, which dates back to 2024. Finnish police suspected Heart of gross tax evasion and assault, and he had been remanded in custody in absentia on September 13 that year.\n\n
Seizures
Police seized cash, gold jewelry, watches, and electronic devices during the raid, along with three pistols and four long-barreled rifles, according to IHA. The agency reported these were reported search findings, not a determination of whether the seized property was linked to any offense.\n\n
Previous Lawsuits
Heart previously faced a separate U.S. civil securities lawsuit, in which the SEC alleged that he, HEX, PulseChain, and PulseX conducted unregistered crypto offerings raising more than $1 billion. The regulator also alleged that Heart and PulseChain diverted at least $12 million for luxury purchases. Judge Carol Bagley Amon of the U.S. District Court for the Eastern District of New York granted dismissal on February 28, 2025.\n\n
The arrest highlights the growing regulatory pressure on the cryptocurrency industry, and raises concerns about the potential for further arrests and market impact.