Turkish Justice Minister Akın Gürlek has officially confirmed the detention of Richard Heart, also known as Richard James Schueler, founder of $HEX and PulseChain ( $PLS ). The operation took place in Istanbul on October 14, while the detailed government statement was released on October 17. Authorities said searches across 15 addresses recovered $7.15 million in cash, 160,000 Turkish lira and six cryptocurrency cold wallets.
The official inventory differs from initial local reports that cited $4 million in cash. Authorities have not disclosed the wallet balances or identified any seized crypto assets, so the value of those wallets cannot be added to the cash total. Investigators also detained Heart’s wife and three alleged bodyguards.
The investigation is ongoing. Finnish authorities have sought Heart in connection with alleged tax offenses, while a separate U.S. SEC case was dismissed in 2025 on jurisdictional grounds. The detention does not establish guilt.
The official inventory differs from initial local reports that cited $4 million in cash. Authorities have not disclosed the wallet balances or identified any seized crypto assets, so the value of those wallets cannot be added to the cash total. Investigators also detained Heart’s wife and three alleged bodyguards.
The investigation is ongoing. Finnish authorities have sought Heart in connection with alleged tax offenses, while a separate U.S. SEC case was dismissed in 2025 on jurisdictional grounds. The detention does not establish guilt.