• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Cryptocurrency Fraud Investigation: German Entrepreneur on the Run

user avatar

by Giorgi Kostiuk

a year ago

German citizen Horst Jicha has become a fugitive after missing a cryptocurrency fraud hearing in New York.

Evading the Trial

Horst Jicha, 64, was under house arrest and out on a $5 million bond. Authorities suspect he tampered with his ankle monitor and disappeared earlier this month.

The USI Tech Scheme

Jicha's case revolves around USI Tech, a platform that claimed to offer cryptocurrency investments with guaranteed high returns. Prosecutors allege that USI Tech was a pyramid scheme disguised as a legitimate investment operation. Investors were promised up to 140% returns in 140 days through bitcoin mining and trading, but the platform collapsed, leaving them with losses.

Consequences and Search

After fleeing, Jicha's $5 million bond, guaranteed by his partner, children, and associates in Germany, has been forfeited. Prosecutors are actively searching for Jicha, but his whereabouts remain unknown. He had lived in various countries, including Brazil and Spain, prior to his arrest in Florida last year.

Prosecutors continue the search for Horst Jicha, as his trial remains open, impacting investors and his close associates significantly.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Strive, Inc. Sees SATA Stock Price Approach $100 Liquidation Preference

chest

Strive, Inc. reports that its SATA preferred stocks are nearing the $100 liquidation preference, driven by increased investor interest and Bitcoin acquisitions.

user avatarElias Mukuru

EU's Corporate Sustainability Reporting Directive (CSRD) Enforces Double Materiality

chest

The EU's CSRD requires companies to disclose both financial performance and their impact on society and the environment.

user avatarMaria Fernandez

Aerodrome Finance AERO Maintains Strong Onchain Activity

chest

Aerodrome Finance AERO continues to show robust onchain activity, with Total Value Locked nearing 5059 million, positioning it among the leading liquidity venues on Base Source X.

user avatarKenji Takahashi

SEC Finalizes Cybersecurity Disclosure Rules

chest

The SEC has established new rules requiring companies to disclose material cybersecurity incidents within four business days.

user avatarGustavo Mendoza

Aerodrome Finance AERO Shows Signs of Trend Reversal

chest

Aerodrome Finance AERO is showing signs of a potential macro trend reversal as it forms an inverse head and shoulders pattern near a critical neckline.

user avatarRajesh Kumar

US Workers Receive Lowest Share of GDP Since 1947

chest

US workers are receiving the lowest share of GDP since 1947, with wages and salaries dropping to 53.8% in Q3 2022, raising concerns about income inequality.

user avatarMiguel Rodriguez

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.