Crypto Fraud Case: Ankle Monitor Tampering Leads to Manhunt for Horst Jicha
Crypto Fraud Case – A man currently under home detention for his alleged role in a staggering $180 million cryptocurrency fraud scheme is reportedly on the run after tampering with his ankle monitor, according to New York prosecutors.
Allegations of Tampering and Absconding
Horst Jicha, the former CEO of the purported crypto mining and trading firm USI-Tech, is believed to have manipulated his ankle bracelet on October 4. This act constituted a violation of his pretrial conditions, leading prosecutors to declare him a fugitive. A court filing submitted on October 10 revealed that pretrial services informed the government roughly 12 hours after Jicha’s monitoring device ceased functioning, prompting an immediate request for an arrest warrant.
Background on Jicha’s Legal Troubles
Jicha, a 64-year-old German national, was initially apprehended on December 23, 2023, in Miami, Florida. This marked his return to the United States after a five-year absence, during which he fled following cease-and-desist letters from U.S. authorities in 2018. Following his arrest, Jicha was placed under home detention in New York, with a $5 million bond backed by his domestic partner and children.
Active Investigation and Charges
According to John Marzulli, a spokesman for the Brooklyn U.S. Attorney’s Office, there is an ongoing, vigorous investigation to recapture Jicha. Authorities have taken precautions to limit his ability to escape by requiring him to surrender his German passport.
Jicha’s case is set for trial on March 31, where he faces multiple charges, including securities fraud and money laundering conspiracy related to his alleged activities with USI-Tech. Prosecutors claim that Jicha guaranteed investors a 1% daily return by engaging in USI-Tech’s mining and trading scheme.
Missing Funds and USI-Tech’s Operations
The allegations against Jicha include the disappearance of approximately 1,774 Bitcoin and 28,589 Ether, collectively valued at over $180 million at current market rates. Prosecutors assert that these funds were transferred to a crypto exchange deposit address under Jicha’s control.
USI-Tech was purportedly established in Europe in May 2017, but it rapidly targeted U.S. investors shortly thereafter. The company ceased operations on January 8, 2018, citing regulatory scrutiny and blaming investors for making misleading claims about its products. This shutdown left many investors unable to withdraw funds from USI-Tech’s platform.
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