German national, Horst Jicha, charged with orchestrating a $150 million crypto fraud scheme, has become a fugitive after failing to appear in a Brooklyn federal court. Jicha was under home detention in New York City, having secured a $5 million bond guaranteed by his domestic partner and children. The trial is scheduled for March 31. Prosecutors aim to recover the $4 million portion of the bond that was “personally guaranteed” by Jicha’s partner and family members, all of whom reside in Germany. Jicha is suspected of tampering with his ankle monitor on October 3, leading to concerns about his compliance with the court’s conditions for release. The USI Tech scheme, launched in Europe and marketed in the United States starting in 2017, has been described as a “multilevel marketing operation” that relied on recruiting new investors to sustain returns for earlier ones.
Source: <span style="font-weight: 400;">report </span>
