Finnish police reportedly seized about $2.6 million worth of luxury watches from Hex founder Richard Schueler, also known as Richard Heart, who is wanted for tax evasion and assault in Finland.
Police seized 20 luxury watches, mostly Rolexes, which are believed to be Schueler’s and were left in a residence in the city of Espoo, Finland’s national broadcaster Yleisradio Oy (Yle) reported on Jan. 7.
The combined value of the watches came to $2.68 million, according to a combination of receipts and estimates from a luxury goods expert.
Many of the watches were purchased in Finland, while some were bought in the US.
Eight of Schueler’s watches were seized by Finnish authorities. Source: Finland Police
The detective in charge of the investigation into Schueler, Inspector Harri Saaristola, told Yle that the police were able to track down his abandoned watches through their intelligence activities.
On Sept. 13, Finnish authorities remanded Schueler into custody following allegations of tax fraud and assault. However, the relevant authorities have been unable to locate him.
Schueler is suspected of tax evasion between June 2, 2020, and April 2, 2024, and of assault on Feb. 16 and 17, 2021.
On Dec. 22, Interpol issued a “Red Notice” for Schueler based on the same allegations.
Schueler was also listed on Europe’s most wanted fugitives list, where the same allegations were shared in greater detail. It alleged that he “physically assaulted a 16-year-old victim by grabbing their hair, dragging them into the stairwell, and knocking them to the ground.”
Schueler’s Finnish tax arrears are suspected to amount to “several hundred million euros,” while the government estimated his 2023 income to be 15.2 million euros ($16.9 million).
Related: SEC serves suit to evasive Richard Heart in Finland, but not in person
While authorities are still unable to pin down Schueler’s location, he maintains an active presence on social media, continuing to promote his cryptocurrency HEX (HEX) on X and upload videos to his YouTube channel.
Source: Richard Heart
Schueler also faces charges from the US Securities and Exchange Commission, which sued him in July 2023, alleging that three tokens his companies issued — Hex (HEX), PulseChain (PLS), and PulseX (PSLX) — are unregistered securities that raised over $1 billion.
The SEC also alleged that some of the funds were misused for personal acquisitions such as a 555-carat diamond, expensive watches and high-end automobiles.
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