As a seasoned crypto investor who has seen my fair share of shady characters and fraudulent schemes, this news about Horst Jicha is yet another reminder that not every shiny object in the crypto world is what it seems. The fact that he’s allegedly involved in an $180 million cryptocurrency fraud scheme, on the run from authorities, and has a history of fleeing the country – all while being under home detention – is simply astounding.
It seems that a man under house arrest due to accusations of a $180 million cryptocurrency scam has disappeared, as he appears to have interfered with the device monitoring his ankle, according to New York’s district attorneys.
According to a court document filed on October 10th, it’s alleged that Horst Jicha, the previous CEO of USI-Tech (a company claimed to be in crypto mining and trading), manipulated his ankle monitor on October 4th and left his location without permission, violating the conditions set before his trial.
Approximately 12 hours after Jicha’s monitoring device malfunctioned, Pretrial Services notified the authorities, swiftly requesting an arrest warrant for the alleged fugitive.
On December 23, 2023, Jicha, a citizen of Germany, was apprehended in Miami, Florida, upon his return to the U.S. after an absence of over five years, where he had gone for a holiday.
Since his departure from the U.S. following the receipt of cease-and-desist notices from American authorities in 2018, he hadn’t returned until now.
On October 11th, it was reported by CNBC that Jicha was required to remain at home under house arrest in New York, with a $5 million bond secured by his domestic partner and children.
An ongoing, vigorous investigation is being conducted in an attempt to apprehend him,” stated John Marzulli, a representative from the Brooklyn US Attorney’s Office, as reported to CNBC.
Due to giving up his German passport in December, it might be challenging for the 64-year-old to try leaving the country.
The court has set his trial date for March 31, during which he will answer multiple accusations of securities fraud and money laundering conspiracies, allegedly linked to his activities at USI-Tech.
CryptoMoon reached out to Jicha’s attorneys but didn’t receive an immediate response.
According to the prosecution, Jicha assured investors they’d receive a 1% profit every day from USI-Tech’s mining and trading operations.
1,774 Bitcoins (BTC) and 28,589 Ethers (ETH), with a combined value exceeding $180 million according to current market rates, are said to be unaccounted for in the suspected fraudulent activities of USI-Tech.
The prosecution alleges that the money was sent to a cryptocurrency exchange account owned by Jicha.
Initially, it’s said that USI-Tech was established in Europe during May of 2017. Later on, the company was actively promoted towards American investors around late summer or early fall of the same year.
Following the examination by U.S. regulators, USI-Tech ceased operations on January 8, 2018, attributing investor comments regarding their products as inaccurate or misleading.
Investors were left unable to withdraw funds from USI-Tech’s portal.
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2024-10-13 19:19