❗️US national wanted over alleged $1 billion crypto fraud detained in Istanbul

US national Richard James Schueler, reportedly wanted under an Interpol Red Notice over alleged cryptocurrency fraud involving $1 billion in the US and Finland, was detained in Istanbul alongside his wife, Turkish Justice Minister Akin Gurlek announced today.

Three alleged bodyguards were also detained during an operation in Istanbul’s Besiktas district, which involved Turkiye’s police intelligence and financial crimes units, the National Intelligence Organization (MIT) and the Istanbul Chief Public Prosecutor’s Office.

Turkish authorities seized $7.15 million in cash, cryptocurrency cold wallets, electronic devices, luxury goods and other valuables during searches at 15 addresses across Besiktas, Uskudar and Sariyer.

Investigators also confiscated firearms and ammunition. Gurlek said judicial proceedings against the suspects and examination of the seized materials were ongoing, adding that Turkiye would not become a safe haven for internationally wanted suspects.