HEX founder Richard Heart was detained in Istanbul, confirmed by Turkey’s justice minister on the 18th. Authorities searched 15 properties and seized $7.15 million in cash, six cold wallets, 100 pairs of shoes, 28 watches, seven guns, and 1,400 rounds of ammunition.
The seizure list is more interesting than the news itself. When he promoted HEX, luxury watches and sports cars were part of the pitch. Now, those same kinds of luxury goods have ended up on a list of items connected to the case—a full-circle moment.
In the U.S., he faces allegations of fraud involving around $1 billion. Last year, a judge dismissed the SEC’s lawsuit on jurisdictional grounds. This time, a Red Notice requested by Finland led to his arrest in Turkey. What regulators couldn’t pursue has been picked up through another process.
The seizure list is more interesting than the news itself. When he promoted HEX, luxury watches and sports cars were part of the pitch. Now, those same kinds of luxury goods have ended up on a list of items connected to the case—a full-circle moment.
In the U.S., he faces allegations of fraud involving around $1 billion. Last year, a judge dismissed the SEC’s lawsuit on jurisdictional grounds. This time, a Red Notice requested by Finland led to his arrest in Turkey. What regulators couldn’t pursue has been picked up through another process.