Türkiye nabs Interpol-wanted crypto fugitive in Istanbul operation

Turkish authorities have apprehended an Interpol-wanted crypto fugitive in an operation carried out in Istanbul on Wednesday, media reports said.

Richard James Schueler, also known as Richard Heart, a fugitive wanted by Interpol with a Red Notice on charges of international crypto fraud, was captured along with his wife, A.K., in an operation carried out by the National Intelligence Organization (MIT) and police teams in Istanbul, the reports said.

The suspect, who was caught with a large amount of money, digital materials, jewelry and firearms, was taken into custody, the report by Ihlas News Agency (IHA) said.

In 2024, Interpol issued the Red Notice for Schueler for allegedly committing tax fraud and assault. A year before that, the Securities and Exchange Commission (SEC) charged Schueler and three unincorporated entities that he controls, Hex, PulseChain and PulseX, "with conducting unregistered offerings of crypto asset securities that raised more than $1 billion in crypto assets from investors."

"SEC also charged Heart and PulseChain with fraud for misappropriating at least $12 million of offering proceeds to purchase luxury goods including sports cars, watches and a 555-carat black diamond known as 'The Enigma' – reportedly the largest black diamond in the world," the organization said in a statement on July 31, 2023.