American detained in Istanbul on suspicion of crypto fraud — Anadolu Agency

US citizen Richard James Schuler was detained in Istanbul, Turkey. According to Turkish Justice Minister Akın Gürlek, he was wanted in connection with an alleged $1 billion crypto fraud case in the United States and Finland. As Anadolu Agency reports, Gürlek said that an Interpol red notice had been issued for Schuler.

Operation in Beşiktaş

According to Gürlek, Schuler and his wife were detained on Wednesday during an operation in the Beşiktaş district. Three other people, whom the minister described as the couple's bodyguards, were also detained.

Schuler's whereabouts were established by the intelligence and financial units of Istanbul police. The operation was coordinated by the Istanbul Chief Public Prosecutor's Office with the support of Turkey's National Intelligence Organization.

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Money, crypto wallets and equipment

During judicial searches at 15 addresses in the Beşiktaş, Üsküdar and Sarıyer districts, law enforcement officers seized $7.15 million in cash, 160,000 Turkish lira, six cold crypto wallets, as well as luxury items. The seized items included 300 bags, 100 pairs of shoes, 136 pairs of glasses, 28 wristwatches and 97 pieces of jewelry.

Investigators also confiscated 29 mobile phones, 12 laptops, 11 system units, solid-state and external data storage devices, 46 USB storage devices, 19 graphics cards, four long-barreled shotguns, three unregistered pistols and 1,400 rounds of ammunition. Judicial procedures concerning those detained and the examination of the seized materials are ongoing.