Horst Jicha is being regarded as a fugitive after the accused crypto scammer’s ankle monitor went silent and he fled a pre-trial meeting.
A German national who is accused of presided over a $150 million crypto fraud has fled the country after failing to appear in court.
The USI Tech cryptocurrency conspiracy was the subject of Horst Jicha’s alleged involvement, and he was facing trial on charges of securities fraud, wire fraud, and money laundering.
As per CNBC, Pretrial Services suspected that Jicha may have interfered with his ankle bracelet monitor after it failed to function. Subsequently, Jicha neglected to respond to an email from Pretrial Services that instructed him to visit their office.
Pretrial Services informed prosecutors that Jicha’s ankle monitor had malfunctioned after more than a day had passed, according to CNBC. John Marzulli, a spokesman for the Brooklyn U.S. attorney’s office, stated that a “very active investigation” is currently ongoing to apprehend him in the wake of his failure to appear in court.
Jicha was obligated to post a $5 million surety, which will be forfeited upon his departure, with the backing of his domestic partner, his children, and three others.
Breon Peace, the U.S. Attorney for the Eastern District of New York, accused Jicha of operating USI Tech, a “multilevel marketing conspiracy to defraud U.S. investors enthusiastic about the crypto market,” in a January 2024 statement regarding the charges.
According to reports, USI Tech provided investors with guaranteed returns. Prosecutors argue that the platform was merely a façade, and Jicha fled with more than $150 million in investor funds, the majority of which was in Bitcoin and Ethereum, after enquiries were raised.
As reported by CNBC, Jicha was compelled to surrender all of his passports and travel documents to the authorities in order to be released, and he was placed under house arrest.
Also Read: US bank stocks rise since SVB crash as economic confidence rises
Wallets