Development on TrueCrypt has been halted and the last version of TrueCrypt (v7.2) does not allow creation of new volumes. VeraCrypt is a fork of TrueCrypt source code that offers updated encryption settings and a GUI that is the same as in TrueCrypt. This might be closest replacement of TrueCrypt, if you were looking for that.
The Linux installation file can be downloaded from here. Installation is similar to TrueCrypt: you unzip and then install the script file using
VeraCrypt volumes can be created and mounted just like in TrueCrypt.
To mount your TrueCrypt volumes, click the TrueCrypt Mode checkbox in the dialog.
To mount from shell:
veracrypt --password="my pass" --mount /path/to/volume.vc /media/veracrypt1
To unmount from shell:
veracrypt --dismount /path/to/volume.vc
To unmount all mounted volumes:
When mounting a Truecrypt volume, use
--truecrypt at the beginning.
Tried with: VeraCrypt 1.14 and Ubuntu 15.04