# Detention of Richard Heart in Istanbul

> Live situation record from CLSTR: https://clstr.news/situations/detention-of-richard-heart-in-istanbul
> Updated: 2026-10-20T18:24:26.000Z. Sources: 31. Developments: 3.

Richard James Schueler, also known as Richard Heart, the founder of cryptocurrency projects HEX and PulseChain, was detained in Istanbul, Turkey, on October 14, 2026. The arrest was conducted through a joint operation involving the Turkish National Intelligence Organization (MİT), Istanbul Police intelligence and financial crime units, and the Istanbul Chief Public Prosecutor's Office, following an Interpol Red Notice requested by Finnish authorities.

Schueler faces allegations of aggravated tax fraud and assault in Finland, as well as claims of a $1 billion cryptocurrency fraud involving operations in the United States and Finland. He also faces legal action from the U.S. Securities and Exchange Commission (SEC) regarding the sale of unregistered financial products.

During raids across 15 addresses in the Beşiktaş, Üsküdar, and Sarıyer districts, authorities seized significant assets. Confiscated items included $7,150,000 USD in cash, 160,000 TL, and six crypto cold wallets. Luxury goods seized included 300 designer bags, 100 pairs of shoes, 136 sunglasses, 28 watches, and 97 pieces of jewelry.

Digital evidence recovered includes 29 mobile phones, 12 laptops, 11 computer towers, 19 SSDs/external drives, 46 USB sticks, and 19 graphics cards. Law enforcement also recovered weaponry consisting of four long-barreled rifles, three unlicensed pistols, and 1,400 rounds of ammunition. In addition to Schueler, authorities detained his wife and three individuals identified as his bodyguards. Justice Minister Akın Gürlek stated that Turkey will not serve as a “sanctuary for international criminals.”

Following the news of the detention, the market value of Heart’s associated tokens, HEX and PulseChain (PLS), experienced sharp declines ranging between 25% and 50%.

## Claims

- Richard James Schueler is accused of a $1 billion crypto fraud in the US and Finland (corroborated by 14 sources)
- INTERPOL issued a red notice for Schueler (corroborated by 14 sources)
- Turkish authorities arrested Schueler and his wife in Beşiktaş on October 14, 2026 (corroborated by 14 sources)
- Three additional individuals identified as bodyguards were also detained (corroborated by 14 sources)
- Searches at 15 addresses in Beşiktaş, Üsküdar, and Sarıyer yielded $7,150,000 USD and 160,000 TL (corroborated by 14 sources)
- Authorities seized 6 crypto cold wallets and various digital devices (corroborated by 14 sources)
- Police seized 4 long-barreled rifles, 3 unlicensed pistols, and 1,400 rounds of ammunition (corroborated by 14 sources)
- The operation was conducted with the support of the National Intelligence Organization (MİT) (corroborated by 14 sources)

## Timeline

### 2026-10-20: Richard Heart arrested in Istanbul police operation

Crypto developer Richard Heart, wanted via an Interpol Red Notice, was arrested in Istanbul during a joint operation by Turkish intelligence and police.

2 sources. https://clstr.news/cluster/richard-heart-arrested-in-istanbul-police-operation

### 2026-10-17: Richard James Schueler arrested in Istanbul for $1 billion crypto fraud

Turkish authorities arrested US citizen Richard James Schueler in Istanbul. He is wanted by INTERPOL for an alleged $1 billion crypto fraud in the US and Finland. Millions in cash and luxury goods were seized.

17 sources. https://clstr.news/cluster/richard-james-schueler-apprehended-in-istanbul-crypto-fraud-operation

### 2026-10-14: Richard Heart detained in Istanbul following Interpol Red Notice

Crypto founder Richard Heart (Richard James Schueler) has been detained in Istanbul following an Interpol Red Notice from Finland regarding tax fraud and assault allegations. His tokens have plummeted in value.

12 sources. https://clstr.news/cluster/richard-james-schueler-arrested-in-istanbul-for-crypto-fraud

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Cite as: Detention of Richard Heart in Istanbul. CLSTR, https://clstr.news/situations/detention-of-richard-heart-in-istanbul