Key Takeaways:

Former USI-Tech CEO Horst Jicha is on the run after allegedly tampering with his ankle monitor, violating his pretrial house arrest.
Jicha faces charges related to a $180 million crypto fraud scheme and had surrendered his passport, but authorities fear he may attempt to flee internationally.
USI-Tech, a crypto firm Jicha led, collapsed in 2018 after regulatory scrutiny, leaving investors unable to recover funds.

Horst Jicha, former CEO of USI-Tech, is reportedly on the run after tampering with his ankle monitor, according to New York prosecutors.

Jicha was under house arrest, accused of involvement in a $180 million cryptocurrency fraud scheme through his now-defunct company, USI-Tech.

Horst Jicha skips bail in $150 million USI Tech crypto fraud case in New York https://t.co/0dr4xM05sT
— CNBC (@CNBC) October 11, 2024

On October 4, 2024, he allegedly disabled his ankle monitor, violating his pretrial conditions.

Authorities were notified 12 hours later, and an arrest warrant was issued.

Jicha, a German national, was initially arrested in Miami in December 2023 after returning to the U.S. for the first time since fleeing in 2018 following regulatory orders.

🚨 BREAKING: HORST JICHA WHO WAS CHARGED IN $150,000,000 #CRYPTO FRAUD CASE, NOW WANTED AFTER TAMPERING WITH ANKLE MONITOR, MISSING COURT APPEARANCE

A MANHUNT IS NOW UNDERWAY pic.twitter.com/hcMm326iOW
— blockchaindaily.news (@blckchaindaily) October 11, 2024

He was out on a $5 million bond but had surrendered his passport.

USI-Tech allegedly defrauded investors by promising daily returns through cryptocurrency mining and trading, funneling millions of Bitcoin and Ether to a wallet controlled by Jicha.

His trial was scheduled for March 2025, and U.S. authorities are actively searching for him.