17.10.2026 10:00
US citizen Richard James Schueler, who is alleged to have been involved in a $1 billion crypto asset fraud in the US and Finland and was sought by INTERPOL with a red notice, was caught in Istanbul. In the operation, the suspect's wife and 3 people determined to be his bodyguards were also detained. In raids on 15 addresses, $7 million 150 thousand in cash, cold wallets, jewelry, and a large amount of digital material were seized.
Richard James Schueler, reportedly known in the cryptocurrency world by the nickname "Whale James," was caught in an operation carried out in Istanbul. It was determined through the coordinated work of intelligence and police units that Schueler, a U.S. citizen wanted by INTERPOL with a red notice on allegations of carrying out $1 billion in cryptocurrency asset fraud in the United States and Finland, was in Istanbul.
DETAINED TOGETHER WITH HIS WIFE
Minister Gürlek made the following post regarding the operation against cryptocurrency fraudsters:
"We resolutely continue our work with the strong coordination of our security and intelligence units so that our country does not become a place where those sought on allegations of committing crimes can take refuge, and to catch persons wanted at the international level and prevent them from escaping justice.
U.S. citizen Richard James Schueler, reported to have had an INTERPOL red notice issued for him on allegations of carrying out $1 billion in cryptocurrency asset fraud in the United States and Finland, was caught and taken into custody in Istanbul.
As a result of the work carried out under the coordination of the Istanbul Chief Public Prosecutor's Office, by the Intelligence and Financial Crimes Combat Branch Directorates of the Istanbul Police Department, with the support of our National Intelligence Organization Presidency, it was determined that the suspect was in Istanbul.
Schueler and his wife were taken into custody in the operation carried out in Beşiktaş on October 14, 2026. Within the scope of the ongoing work, 3 more people determined to have been working as Schueler's bodyguards were caught and taken into custody.
HERE IS WHAT WAS SEIZED IN THE SEARCHES
In judicial searches carried out at a total of 15 addresses in the Beşiktaş, Üsküdar, and Sarıyer districts;
- $7,150,000 and 160,000 TL,
- 6 cold wallets,
- 300 bags of different brands, 100 pairs of shoes, 136 pairs of glasses, and 28 wristwatches,
- 97 pieces of jewelry and various valuable items,
- 29 mobile phones, 12 laptops, 11 computer cases, 19 SSDs/external drives, 46 USB flash drives, and 19 graphics cards,
- 4 long-barreled rifles, 3 unlicensed handguns, and 1,400 cartridges were seized.
Judicial proceedings regarding the suspects and examinations of the seized materials are ongoing. I thank our Istanbul Chief Public Prosecutor's Office, which is conducting the investigation meticulously, the relevant units of our Istanbul Police Department that carried out the operation, our National Intelligence Organization Presidency, and all public officials who contributed. We will not allow anyone to see Turkey as a safe harbor from which they can escape justice. We will resolutely continue to protect the security of our country and to further strengthen our international cooperation in the fight against transnational crimes."