SEC Charges Crypto Network/Internet Marketing CEO with Securities Fraud 

Lawyers in the Fort Worth Office of the U.S. Securities and Exchange Commission have charged an internet marketing guru turned cryptocurrency network founder with securities fraud and using $12.1 million of investor funds to buy a Ferrari Roma sports car, a Rolex Daytona Eye of the Tiger watch and a 555-carat black diamond called “The Enigma.”

The 27-page lawsuit, filed Monday by SEC trial attorney Matthew Gulde of Fort Worth, accuses Richard Schueler and three crypto companies he created — Hex, PulseChain and PulseX — of illegally conducting securities offerings that raised more than $1 billion during the past three years and misappropriating some of the funds for his personal luxury purchases.