A US citizen sought by Interpol over suspected cryptocurrency fraud has been arrested in Istanbul, Turkey. Richard James Schueler was detained on October 14 in the Beşiktaş district under an Interpol Red Notice, TRT Haber reported. Police carried out the operation with the Istanbul Chief Public Prosecutor’s Office, using police intelligence and financial crimes units with support from Türkiye’s National Intelligence Organization (MİT). Schueler’s wife and three personal bodyguards were also detained. Officers searched 15 locations across Beşiktaş, Üsküdar and Sarıyer. They seized $7.15 million in cash, 160,000 Turkish liras, and six hardware cryptocurrency wallets. The raids also led to the confiscation of 29 smartphones, 23 computers and laptops, 19 solid-state drives, 46 USB storage devices and 19 graphics cards. Police further discovered items including approximately 300 designer handbags, 100 pairs of shoes, 136 pairs of glasses, 28 wristwatches and 97 pieces of jewelry. Weapons seized during the searches included four rifles, three unregistered pistols, and 1,400 rounds of ammunition. Schueler is under arrest following the operation, while the investigation into the alleged $1 billion crypto fraud involving the US and Finland remains ongoing.