Horst Jicha, a German national serving home detention after being charged with overseeing a $150 million cryptocurrency fraud, has become a fugitive, according to CNBC.
Jicha was under home detention in New York City on a $5 million bond guaranteed by his domestic partner and children before allegedly tampering with his ankle bracelet and disappearing, according to the report, which cited a statement made by the U.S. attorney’s office to a judge.
The alleged fraudster is supposed to go to trial in March to answer for "multiple charges of securities fraud and conspiracy related to a multi-level marketing scheme known as USI Tech," CNBC said. Jicha was arrested last December in Florida, according to the report.
The $150 million valuation comes from "missing money in the scam" that was held in Ethereum and bitcoin, the report said. Jicha allegedly lied to investors, promising them 140% returns in 140 days by investing in either bitcoin mining or "trading operations."
A spokesperson for the U.S. attorney’s office said prosecutors planned to forfeit the bond, which means they will try and obtain $4 million "personally guaranteed by Jicha’s partner, children and three other people, all of whom live in Germany."
While Jicha's whereabouts are unknown, court documents show he has lived in Spain and Brazil.
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