Finnish police have seized luxury watches worth more than $2.6 million from Hex founder Richard Schuller (aka Richard Hart).

Finnish National Radio yelradio oy (yell) I mentioned Yesterday, local law enforcement seized 20 luxury watches (mostly Rolex) from Schuyler, who is wanted on nationwide tax evasion charges. The goods, with a total value of $2.68 million, were left at a residence in Espoo, according to a translated version of the report.

Schuyler founded Hex, a cryptocurrency marketed as a high-yield “blockchain certificate of deposit.” The US Securities and Exchange Commission (SEC) is investigating its token as a potential unregistered security. Schuyler is also accused of misusing $12 million in luxury goods and promoting unrealistic returns.

News of the watch's seizure followed Reports late December Interpol, the world's largest international law enforcement organization, has issued an arrest warrant for Schuyler on tax fraud and assault charges. The man reportedly “physically assaulted a 16-year-old victim by grabbing her hair, dragging her into the stairwell and throwing her to the ground.”

Many of the watches were purchased in Finland, while others were purchased in the United States. Harry Saristola, the investigator in charge of the Schuyler investigation, said police were able to trace the goods through intelligence services.

The SEC claims that Hex fails the Howey test, making it eligible as a security. It indicates that the value of the token has fallen by 98.4% from its peak. Organizer Schuyler accused and three individual entities, PulseChain, PulseX, and Hex, in the summer of 2023.

Heart began marketing Hex in 2018, claiming it was the first high-yield “blockchain certificate of deposit,” and began promoting Hex tokens as an investment designed to make people “rich,” the SEC complaint said. This summer, he Submit a request for dismissal case, alleging that he raised more than $1 billion through sales of unregistered securities tied to his startup Hex.

Modified by Stacey Elliott.