Istanbul:US national Richard James Schueler, wanted for allegedly orchestrating a $1 billion cryptocurrency fraud in the US and Finland, has been detained in Istanbul. Turkish Justice Minister Akin Gurlek announced the arrest, indicating that Schueler was apprehended following an Interpol Red Notice issued against him.

According to Anadolu Agency – English, Gurlek revealed on the Turkish social media platform NSosyal that Schueler was taken into custody by Turkish authorities. He emphasized that Turkey is committed to ensuring it does not become a refuge for international criminals and that Turkish security and intelligence agencies are working closely to apprehend wanted suspects.

The arrest was carried out by the Istanbul Police Department's intelligence and financial crimes units, in coordination with the Istanbul Chief Public Prosecutor's Office and with support from the National Intelligence Organization (MIT). Schueler and his wife were detained in the Besiktas district of Istanbul, along with three individuals identified as their bodyguards.

During the operation, judicial searches were conducted at 15 locations across Besiktas, Uskudar, and Sariyer districts. Authorities seized significant assets, including $7.15 million, 160,000 Turkish liras, six cryptocurrency cold wallets, and various luxury items. A large cache of electronics and weapons was also confiscated, including mobile phones, computers, and firearms.

Gurlek stated that judicial proceedings and examinations of the seized materials are ongoing. He expressed gratitude to all involved in the operation, including the Istanbul Chief Public Prosecutor's Office, the Istanbul Police Department, and MIT.