'Whale James' Schueler arrested in Istanbul: $7 million in cash, 555-carat diamond seized

Arrested in Istanbul: Richard James Schueler, a 47-year-old Pennsylvania native wanted by Interpol and accused of $1 billion in cryptocurrency fraud in the US and Finland, was apprehended in Istanbul with his wife. Known by the moniker 'Whale James,' Schueler had settled in Istanbul and purchased or rented 15 separate properties in Besiktas, Uskudar, and Sariyer.

During the operation, authorities seized 4 rifles, 3 pistols, and $7 million in cash from the residences. Nine luxury vehicles belonging to Schueler's wife were also confiscated.

A spokesperson also claimed that Schueler owned a 555-carat 'Enigma' diamond, purported to be the world's largest black diamond. The diamond was sold at Sotheby's auction on February 9, 2022, for 3 million 161 thousand pounds; it was known that the buyer, concealing their identity, paid with cryptocurrency. Schueler allegedly purchased the diamond with $4.3 million in cryptocurrency and used investor funds to do so. It is believed the diamond may have been brought to Istanbul by Schueler's wife.

While Schueler was previously known to be subject to an international manhunt, the fact that he settled in Istanbul with such extensive assets has reignited questions about whether suspects fleeing abroad are using Turkey as a safe haven.