Horst Jicha: Fugitive in $150 Million Cryptocurrency Fraud

Horst Jicha, a German national, is now a fugitive after tampering with his ankle bracelet while under home detention in New York City, according to CNBC.

Jicha was on a $5 million bond, guaranteed by his domestic partner and children. He was expected to go to trial in March for multiple charges of securities fraud and conspiracy related to a multi-level marketing scheme known as USI Tech.

Arrested in Florida last December, Jicha allegedly orchestrated a $150 million fraud involving missing funds in Ethereum and bitcoin, misleading investors with promises of 140% returns in 140 days from bitcoin mining and trading operations.

The U.S. attorney’s office indicated plans to forfeit the bond, seeking $4 million guaranteed by Jicha’s family and three individuals from Germany. Currently, Jicha's whereabouts remain unknown, although he has previously lived in Spain and Brazil.