“Türkiye will not be a safe haven”: Istanbul detains US national wanted over alleged $1 billion crypto fraud, along with his wife and three alleged bodyguards

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

The operation took place in Istanbul’s Besiktas district and involved Türkiye’s police intelligence and financial crimes units, the National Intelligence Organization (MIT) and the Istanbul Chief Public Prosecutor’s Office. Searches at 15 addresses in Besiktas, Uskudar and Sariyer led to the seizure of $7.15 million in cash, cryptocurrency cold wallets, electronic devices, luxury goods and other valuables.

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