HEX Founder Richard Heart Arrested in Istanbul, $4 Million in Cash and Luxury Goods Seized

Richard Heart was detained in Istanbul by a joint operation of the Turkish National Intelligence Organization and the police. The operation seized approximately $4 million in cash, 53 Rolex watches, 11 Patek Philippe watches, firearms and ammunition, and a large amount of electronic equipment. His wife, A.K., was also detained. The U.S. SEC had previously accused Heart of issuing unregistered securities through related projects, raising over $1 billion, and allegedly misappropriating at least $12 million to purchase luxury goods. The related lawsuit was dismissed in 2025 due to jurisdictional issues. Additionally, Heart is wanted by Finnish authorities for serious tax evasion and assault cases.

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