Richard James Schueler, who was wanted on charges of international cryptocurrency fraud, has been detained in an operation conducted in Istanbul. It was stated that Schueler, known publicly by the nickname “Whale James”, was wanted by INTERPOL via a Red Notice.
It was reported that Schueler’s location in Beşiktaş was identified through intelligence work during an operation carried out jointly by the MIT and the Istanbul Police Department. The operation, coordinated by the Istanbul Chief Public Prosecutor’s Office, reportedly involved the Financial Crimes Investigation Bureau and INTERPOL units.
A comprehensive search was conducted at the address where Schueler was staying after he was detained in a dawn raid that also involved special operations police.
CASH, WATCHES, AND ELECTRONIC DEVICES FOUND AT THE ADDRESS
It was noted that 4 million dollars in cash, 64 luxury watches, jewelry, and firearms were seized during the searches. Computers, devices used in cryptocurrency mining, and various electronic equipment, which were reportedly hidden in different parts of the house, were also found.
It was stated that the seized electronic devices have been taken into custody for detailed examination. As part of the investigation, allegations that Schueler established an Istanbul-based international cryptocurrency fraud network are being investigated.
It was alleged that Schueler carried out his fraudulent activities through offices reportedly operating in the USA, Finland, and Spain. It was also reported that the US Securities and Exchange Commission (SEC) has accused Schueler of embezzling 1.5 billion dollars in funds.
News Source: 12punto
