Stop me if you can. Ponzi, rug sweater, slaughtering pigsall these old techniques of scamming and robbing people are given a second life thanks to cryptocurrency, which offers new technical possibilities for fraudsters, but which, above all, is an ideal breeding ground for finding potential victims. Promises of returns, FOMO, social media advertising, many investors want to be there and some malicious people take advantage hype surrounding.
That’s the case with Horst Jicha, a German national wanted by the FBI for masterminding a $150 million fraud who got rid of his electronic bracelet before disappearing into thin air last week. Return to a sadly banal story in Web3, where the greed of investors is matched only by the creativity of the aigrefins.
Horst JÃcha is accused of preparing a fraud in the amount of 150 million dollars between 2017 and 2018
Shortly before 2017 Horst JÃcha still lives in Germany, where he founded USI Tech to invest in cryptocurrencies “easy and affordable for retail investors” he then decided to leave Europe and settle in the United States, where he moved his business. On site for a year, they attract many customers by promising them an average return of 140% in the first 140 days, but also encourage them to recruit new partners with a multi-level marketing system (MLM) that rewards the most active.
Investigators say Horst Jicha used his persona on social media and at public meetings to sell his financial products and that he advertised aggressively to bring in new investors. But it all came to an abrupt halt in early 2018 after USI Tech came under regulatory scrutiny in the United States. Overnight, all activity ceases, customers are left without access to their funds, and according to US justice, he would still be missing 150 million dollars in cash registers, siphoned from corporate accounts in the form of BTC and ETH and sent to wallets belonging to our cheater du jour.
He has been on the run since October 3rd and is wanted by the FBI
After disappearing from American soil for more than five years, the accused finally made the mistake of returning there last December and was arrested as soon as he got off the plane at the Miami airport. After being heard by the judge, he will be released against $5 million bail vouched for by members of his family living in Germany and will go to house arrest on Long Island with a formal ban on leaving. Below electronic bracelet and without any proof of identity he had to wait in silence for a hearing on March 31.
However, Horst JÃcha decided otherwise and on the morning of October 3 interfered with the court surveillance system and took escape powder. The police officers noticed the defect, asked him to come to the nearest police station to take stock of it, and are still waiting for him. 26 hours after the estimated time of departure, an alarm is given and the prosecutor is triggered desired notification took over the American press.
So the 64-year-old man is on the run in the United States without a passport and wanted by the police there, and no one currently knows where he is, although the prosecutor said he already lived in Brazil or Spain. However, it may be that the man has financial resources due to the amounts that have disappeared and it could take some time to catch him. The search is ongoing and we will keep you updated on the development of the situation.