On Wednesday, October 14, 2026, Daily Sabah reported that Turkish authorities had detained Richard James Schueler, known publicly as Richard Heart, an international fugitive sought through an Interpol Red Notice over alleged cryptocurrency fraud.
According to the outlet, the arrest took place in Istanbul on Wednesday morning. Schueler’s wife, identified only by the initials A.K., was also taken into custody. The operation was carried out by the National Intelligence Organization (MIT) together with Istanbul police teams, based on media reports.
Daily Sabah, citing the Ihlas News Agency (IHA), said officers from the Istanbul Police Department’s Intelligence Branch and its Anti-Financial Crimes Branch, supported by MIT, had been working to locate internationally wanted suspects. Security and intelligence units determined that Schueler was living in Istanbul. The Red Notice, the report said, was issued at Finland’s request in connection with high-value cryptocurrency fraud.
Police placed his address in the Beşiktaş district under close watch. After technical and physical surveillance, officers moved in on Wednesday morning and detained the couple.
During searches of the residence, authorities reportedly seized about a dozen mobile phones, several laptops, graphics cards, rifles, pistols, two drones, gold bracelets and a large quantity of cash in various currencies.
The report noted that Interpol issued the Red Notice in 2024 over allegations of tax fraud and assault. In July 2023, the U.S. Securities and Exchange Commission (SEC) charged Schueler and three unincorporated entities he controls: Hex, PulseChain and PulseX. The agency alleged they conducted unregistered offerings of crypto asset securities that raised more than $1 billion from investors.
The SEC also charged Schueler and PulseChain with fraud, alleging that at least $12 million in offering proceeds was misappropriated to buy luxury goods. According to the agency’s July 31, 2023 statement, those purchases included sports cars, watches, and a 555-carat black diamond known as “The Enigma,” reportedly the world’s largest.
Source: Daily Sabah
Be the first to comment