Minister Gürlek announced the details of the operation: Richard James Schueler was caught in Istanbul
US citizen Richard James Schueler, wanted for alleged billion-dollar crypto asset fraud, was detained in a joint operation in Istanbul.
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US citizen Richard James Schueler, who was wanted for alleged billion-dollar crypto asset fraud, was caught in a joint operation in Istanbul, following the statement of Minister of Justice Akın Gürlek.
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Why It Matters
Minister of Justice Akın Gürlek announced that an operation was organized within the scope of the fight against international crimes.
Minister of Justice Akın Gürlek announced that, as a result of the work carried out in coordination with security and intelligence units within the scope of combating transnational crimes, US citizen Richard James Schueler, who was wanted for alleged billion-dollar crypto asset fraud, was captured in Istanbul. In his statement, Minister Gürlek emphasized that they will not allow Türkiye to become a country where people wanted for crimes can take shelter.
JOINT OPERATION IN ISTANBUL
The work carried out under the coordination of the Istanbul Chief Public Prosecutor's Office was supported by the Istanbul Police Department's Intelligence and Financial Crimes Fighting Branch Directorates and the National Intelligence Organization. As a result of the studies, it was determined that the suspect was in Istanbul. Richard James Schueler and his wife were detained in the operation carried out in Beşiktaş on October 14, 2026.
RAID ON 15 ADDRESSES: MILLIONS OF DOLLARS WERE SEIZED
A significant amount of cash, digital materials and valuables were seized during forensic searches carried out at a total of 15 addresses in Beşiktaş, Üsküdar and Sarıyer districts. During the searches, 7 million 150 thousand US dollars and 160 thousand TL in cash and 6 cold wallets were found. In addition, 300 bags of different brands, 100 pairs of shoes, 136 glasses, 28 wristwatches, 97 pieces of jewelry and various valuables were seized. Among the materials that could be subject to digital examination were 29 mobile phones, 12 laptops, 11 computer cases, 19 SSDs and external disks, 46 USB sticks and 19 video cards. Within the scope of the operation, 4 long-barreled rifles, 3 unlicensed pistols and 1,400 cartridges were seized.
"WE WILL NOT ALLOW ESCAPE FROM JUSTICE"
Minister of Justice Akın Gürlek stated that the investigation was carried out meticulously and thanked the institutions involved in the operation. Gürlek expressed his gratitude to the Istanbul Chief Public Prosecutor's Office, the relevant units of the Istanbul Police Department, the National Intelligence Organization and the public officials who contributed to the work. Emphasizing that they are determined to protect Türkiye's security and strengthen the fight against international crimes, Minister Gürlek gave the following message: "We will not allow anyone to see Türkiye as a safe haven where they can escape from justice. We will continue to protect the security of our country and further strengthen our international cooperation in the fight against transnational crimes."
INVESTIGATION CONTINUES
It was reported that judicial proceedings against the suspects and investigations into the materials seized during the operations continue.
What to Watch
AI outlook — possibilities, not facts
Legal proceedings against the suspects will continue
Very likely · Within days
Open Questions
- How will the suspect's extradition process work?
- What are the details of the fraud?




