SEC founder HX facing challenges in serving Richard Heart

The US Securities and Exchange Commission (SEC) has said it has failed in its attempt to serve a lawsuit against HX founder Richard Hurt.

“So far, the Commission has not received confirmation of service of process on the defendants in Finland in accordance with the agreement,” the statement said.

In a recent court filing, it was revealed that the US SEC is continuing its efforts to publicly file charges against HEX founder Richard Hurt.

The SEC charged him with securities fraud on July 31. He raised $1 billion by selling unregistered securities.

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However, there are allegations that Heart currently resides in Finland. Additionally, the SEC is having trouble accessing it for legal service.

“If the service is not done at that time. The commission will act for alternative service. Pursuant to Article 4(f) of the Federal Rules of Civil Procedure,” the filing said.

Explore options for serving Richard Heart

According to the SEC, it promised to market its assets as high-yield block “certificates of deposit” as “incentives and bonuses” for investors. Investors can earn a 38% annual return on long-term holdings of Hex Tokens.

However, the court filing does not specify an alternative method of communication.

Meanwhile, in recent times, various alternative service methods have been used.

Meanwhile, in July 2022, a judge in the United Kingdom approved the delivery of legal notices via blockchain.

This is done through the use of a non-volatile token (NFT). The delivery method involves airdropping the charge documents in the form of NFTs into the wallet collection.

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