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.

According to the information received, teams from the Istanbul Police Department Intelligence Branch and the Anti-Financial Crimes Branch, supported by MIT, have been working to apprehend internationally wanted suspects. As part of these efforts, they pursued Schueler, a fugitive wanted internationally by Interpol with a Red Notice.

Upon investigation, it was determined by security and intelligence units that the suspect, who is wanted based on a Red Notice issued by Interpol at the request of Finland for high-value cryptocurrency fraud, was located in Istanbul.

During the ongoing investigation, the suspect's address in the Beşiktaş district was closely monitored by police teams, the IHA report said.

After technical and physical surveillance, he and his wife were arrested and detained in an operation conducted on Wednesday morning, it added.

In searches conducted at the address during the operation, authorities seized a dozen mobile phones, several laptops, graphic cards, rifles, pistols, two drones, gold bracelets and a large amount of cash in different currencies, the report suggested.