Richard Heart, the founder of HEX and PulseChain, was reportedly detained with his wife in Istanbul on Oct. 14. Turkish media linked the operation to an Interpol Red Notice requested by Finland over alleged tax offenses. No extradition has been confirmed.
Turkish police reportedly detained Richard Heart and his wife in Istanbul's Beşiktaş district on Oct. 14, according to İhlas News Agency (IHA). The agency tied the operation to an Interpol Red Notice that Finland requested.
What police reportedly seized
IHA said Istanbul police's intelligence and financial-crimes units carried out the operation with support from Turkey's National Intelligence Organization, MİT, after technical and physical surveillance. The agency reported seizures of cash, gold jewelry, watches and electronic devices, along with three pistols and four long-barreled rifles.
CryptoSlate noted that these were reported search findings, not a determination that the property was linked to any offense. Bankless added that the tallies differ between local reports.
Finland's case against Heart
Heart's legal name is Richard James Schueler. Yle reported that Finnish police suspected him of gross tax evasion and assault, and that he was remanded in custody in absentia on Sept. 13, 2024.
Bankless said Interpol issued the Red Notice in December 2024 over alleged aggravated tax fraud worth hundreds of millions of euros. Heart has not been convicted, and no extradition request has been confirmed.
A Red Notice asks national police to find and temporarily detain a wanted person, and countries decide how to act under their own laws. It does not work as an international arrest warrant.
A separate US case ended earlier
Heart also faced a civil suit from the SEC in the United States. The regulator alleged on July 31, 2023 that Heart, HEX, PulseChain and PulseX conducted unregistered crypto offerings raising more than $1 billion.
A federal judge granted dismissal on Feb. 28, 2025, citing deficiencies in personal jurisdiction. That ruling did not decide the Finnish suspicions. IHA reported that the investigation into Schueler and his wife is continuing.
Sources: CryptoSlate, Bankless
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