US authorities are currently on a manhunt for a German man named Horst Jicha, who is facing charges related to a $150 million cryptocurrency fraud scheme. Jicha failed to appear in court for a scheduled hearing in Brooklyn, leading to him becoming a fugitive, as reported by CNBC.
The U.S. Attorney’s Office for the Eastern District of New York has accused Jicha of securities fraud, conspiracies to commit securities fraud, wire fraud, and money laundering in connection with his involvement in a multilevel marketing crypto scheme known as USI Tech. Jicha allegedly deposited $1 million in cash to secure his bond, but prosecutors are now seeking to obtain the additional $4 million in bond guaranteed by Jicha’s family and others.
Authorities suspect that Jicha tampered with his ankle bracelet monitor, and his trial is set for March 31st. Jicha introduced USI Tech to the US in 2017, promoting it through social media and in-person presentations. However, the company abruptly ceased its operations in the US in early 2018 after facing regulatory scrutiny, leaving investors with significant losses.
After shutting down USI Tech’s US operations, Jicha fled the country and managed to evade capture for five years until he was arrested in December 2023 while attempting to vacation in Miami.
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It is important to note that the information provided in this article is based on reports from CNBC and other reputable sources. Stay informed and stay safe in the world of cryptocurrency.