A German national, Horst Jicha, who was under house arrest in New York City for allegedly overseeing a $150 million cryptocurrency fraud, has become a fugitive. According to the U.S. Attorney’s Office, Jicha is suspected of tampering with his ankle monitoring device.
Jicha was awaiting trial on charges of securities fraud and conspiracy related to a multi-level marketing scheme known as USI Tech. Prosecutors allege that he lied to investors, promising them exorbitant returns through bitcoin mining or trading operations.
The $150 million in question represents missing funds that were invested in Ethereum and Bitcoin.
The U.S. Attorney’s Office is seeking to forfeit the $5 million bond that was guaranteed by Jicha’s domestic partner and children. Court documents indicate that Jicha may have ties to Spain and Brazil.