Fugitive German National Involved in $150 Million Cryptocurrency Fraud Case

Investigation Underway to Capture Horst Jicha

A German national, Horst Jicha, who was charged with overseeing a $150 million cryptocurrency fraud and was under home detention in New York City on a $5 million bond, is now a fugitive. The Brooklyn U.S. attorney’s office is actively working on capturing him after he failed to appear in court as scheduled.

Bond Forfeiture and Ankle Bracelet Tampering

Prosecutors will seek to forfeit the $4 million portion of the bond personally guaranteed by Jicha’s partner, children, and three others from Germany. An additional $1 million was deposited with the federal government to secure the bond. Jicha is suspected of tampering with his ankle bracelet monitor on Oct. 3, leading to his disappearance.

Trial Date Set for Securities Fraud and Conspiracy Charges

Horst Jicha is set to go on trial on March 31, facing charges of securities fraud and conspiracy related to the USI Tech multi-level marketing scheme. Prosecutors allege that Jicha misled investors with false promises of high returns and ultimately stole millions of dollars before fleeing the country.

Allegations Against Jicha and USI Tech Scheme

Jicha allegedly misrepresented USI Tech as a profitable cryptocurrency investment platform, using a multilevel marketing strategy to lure investors. After the company came under regulatory scrutiny in the U.S., it abruptly shut down operations, causing significant losses to investors. Prosecutors claim that Jicha was in possession of around $150 million worth of cryptocurrency from the scam.

Current Whereabouts Unknown

As of now, Horst Jicha’s whereabouts remain unknown. Court records show that he had previously resided in Brazil and Spain before his arrest in Florida in late 2023. Despite being released on bond in January, Jicha is now on the run, evading authorities to face his trial in the cryptocurrency fraud case.