Minister Gürlek announced! $1 billion "Crypto whale" caught
Richard James Schueler, who was wanted with an INTERPOL red notice in the USA and Finland on charges of $ 1 billion crypto asset fraud, was detained during an operation in Istanbul.
Quick Look
US citizen Richard James Schueler, who was wanted with an INTERPOL red notice for allegedly committing a $1 billion crypto fraud in the US and Finland, was detained with his wife and bodyguards in an operation carried out in Istanbul.
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Why It Matters
Richard James Schueler was wanted by INTERPOL for allegedly committing a $1 billion crypto asset fraud in the United States and Finland.
Minister of Justice Akın Gürlek announced that US citizen Richard James Schueler, for whom a red notice was issued by INTERPOL for allegedly committing a $1 billion crypto asset fraud in the USA and Finland, was caught in Istanbul.
Gürlek gave the following information in his statement: "As a result of the work carried out by the Intelligence and Financial Crimes Branch Directorates of our Istanbul Police Department, under the coordination of our Istanbul Chief Public Prosecutor's Office, with the support of our National Intelligence Organization, it was determined that the suspect was in Istanbul.
"HE WAS TAKEN INTO CUSTODY WITH HIS WIFE"
Schueler and his wife were detained in the operation carried out in Beşiktaş on October 14, 2026. As part of the ongoing investigations, 3 more people who were identified as Schueler's bodyguards were caught and detained.
In the forensic searches carried out at a total of 15 addresses in Beşiktaş, Üsküdar and Sarıyer districts; 7 million 150 thousand US dollars and 160 thousand TL, 6 cold wallets, 300 bags of different brands, 100 pairs of shoes, 136 glasses and 28 wristwatches, 97 pieces of jewelry and various valuables, 29 mobile phones, 12 laptops, 11 computer cases, 19 SSD / external disks, 46 USB sticks and 19 video cards, 4 long-barreled rifles, 3 unlicensed guns and 1,400 cartridges were seized.
"INVESTIGATIONS CONTINUE"
Judicial proceedings against the suspects and investigations into the seized materials continue. I would like to thank our Istanbul Chief Public Prosecutor's Office, which carried out the investigation meticulously, the relevant units of our Istanbul Police Department, our National Intelligence Organization, and all our public officials who contributed.
We will not allow anyone to see Turkey as a safe haven where they can escape from justice. We will continue with determination to protect the security of our country and further strengthen our international cooperation in the fight against transnational crimes.
What to Watch
AI outlook — possibilities, not facts
Continuation of the judicial processes of the suspect and his guards
Very likely · Within days
Open Questions
- How will the suspect's extradition process work?
- Will the seized assets be returned to the victims?
