Richard Heart, the Hex founder wanted by Finland under an Interpol Red Notice, was reportedly arrested by police in Istanbul on Wednesday.
That’s according to Turkish news outlet Haberler, which reports that during the morning raid, police seized $4 million in cash, 64 luxury watches, guns, computers, crypto mining equipment, and other electronic devices from Heart, real name Richard James Schueler.
Euronews reports that three handguns, four rifles, seven magazines, 1,360 rounds of ammunition, and a dagger were also seized.
Read more: Finland wants to detain Richard Heart, alleges millions in unpaid taxes
Istanbul’s National Intelligence Organization (MİT) and local Beşiktaş police conducted the raid, which was coordinated by Istanbul’s Chief Public Prosecutor’s Office, Financial Crimes Divison, Interpol, and MİT.
Haberler reports that the investigation looked into Schueler’s alleged Istanbul-based international fraud network that also held offices across the US, Finland, and Spain.
US doesn’t want Richard Heart arrested — but Finland does
In 2023, the SEC accused Heart of selling over $1 billion in unregistered securities, and misappropriating millions of dollars from his Hex, PulseChain, and PulseX crypto projects.
He allegedly misused $12 million to purchase sports cars, watches, and a 555-carat black diamond known as “The Enigma.”
Two years later, the lawsuit was dropped after the SEC failed to establish legal jurisdiction. He’s also no longer listed on Europol’s most wanted list, likely due to today’s reported arrest.
— Çağdaş Evren Şenlik (@CagdasEvren) October 14, 2026
“BALİNA JAMES” İŞTE BÖYLE GÖZALTINA ALINDI.
Interpol tarafından kırmızı bültenle aranan, “Balina James” lakaplı Richard James SCHUELER, İstanbul Beşiktaş’ta düzenlenen operasyonla eşiyle birlikte yakalandı.MİT destekli operasyonda 600 bin dolar, 24 saat, 20 altın… pic.twitter.com/o3vHAyKowc
Read more: Richard Heart tells court full of US investors that HEX wasn’t aimed at them
An Interpol Red Notice on behalf of Finland was posted in December 2024 for alleged aggravated tax fraud involving hundreds of millions of euros in unpaid tax.
He also allegedly assaulted a minor in 2021.
Heart’s alleged new abode in Istanbul was a luxurious address, potentially paid for using funds linked to suspected crypto mixer transactions through which Heart attempted to obfuscate $500 million worth of crypto.
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