US Government Launches Manhunt for Man Accused of Running $150,000,000 Crypto Scam: Report

US authorities have reportedly launched a manhunt investigation to capture a German man charged with operating a $150 million crypto fraud.

Horst Jicha skipped a scheduled appearance in Brooklyn federal court earlier this month and is now a fugitive, per a recent report from CNBC.

Earlier this year, the U.S. Attorney’s Office for the Eastern District of New York accused Jicha of committing securities fraud and conspiracies to commit securities fraud, wire fraud and money laundering over his alleged facilitation of a a multilevel marketing crypto scheme called USI Tech.

Jicha reportedly deposited $1 million worth of cash to authorities to secure his bond, and a spokesperson for the prosecution in the case tells CNBC they plan to obtain the additional $4 million worth of bond that was guaranteed by Jicha’s family and a handful of other people.

A prosecutor also reportedly told the judge in the case that authorities suspect Jicha tampered with his ankle bracelet monitor. His trial is scheduled for March 31st.

Jicha allegedly brought USI Tech to the US in 2017 and marketed it through social media and in-person presentations.

Federal prosecutors say USI Tech abruptly shut down its US operations after attracting scrutiny from regulators in early 2018, leaving investors staring at millions of dollars in losses.

Jicha fled the US after halting USI Tech’s operations in the country and managed to stay away for half a decade until he was arrested in December 2023 while attempting to vacation in Miami.

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