Horst Jicha, former CEO of USI-Tech, is under suspicion of fleeing after allegedly tampering with his ankle monitor, according to New York prosecutors.

Escape and Judicial Intervention

Accused of participating in a $150 million fraud scheme, Horst Jicha is believed to have tampered with his ankle bracelet on October 4 and fled, violating pretrial conditions. Pretrial Services alerted authorities approximately 12 hours after the device ceased to function, prompting an immediate arrest warrant request.

Charges and Context

Jicha, a German national, was arrested on December 23, 2023, in Miami, Florida after entering the U.S. for the first time in over five years. He was placed under house arrest in New York on a $5 million bond. He had to surrender his passport. Prosecutors charge him with involvement in the fraudulent scheme and money laundering.

Company History and Outcomes

USI-Tech was founded in Europe in 2017 and soon began to aggressively market to U.S. investors. After scrutiny from U.S. authorities, it shut down in 2018, leaving investors without access to their funds. Prosecutors allege more than 1,774 Bitcoins and 28,589 Ethers are missing as part of the alleged fraud.

The case of Horst Jicha highlights the seriousness and complexity surrounding legal actions against alleged crypto fraud schemes. Efforts to apprehend him continue.