{"id":9446,"date":"2024-01-23T11:40:04","date_gmt":"2024-01-23T18:40:04","guid":{"rendered":"https:\/\/cbs26.com\/index.php\/2024\/01\/23\/usi-tech-founder-arrested-for-150-million-crypto-fraud\/"},"modified":"2024-01-23T11:40:04","modified_gmt":"2024-01-23T18:40:04","slug":"usi-tech-founder-arrested-for-150-million-crypto-fraud","status":"publish","type":"post","link":"https:\/\/cbs26.com\/index.php\/2024\/01\/23\/usi-tech-founder-arrested-for-150-million-crypto-fraud\/","title":{"rendered":"USI Tech Founder Arrested for $150 Million Crypto Fraud"},"content":{"rendered":"<div id=\"page\">\n<div id=\"content_box\">\n<header>\n<div>\n<p><img loading=\"lazy\" alt src=\"https:\/\/secure.gravatar.com\/avatar\/41169a86822e6585e2f87627f7d7ef3a?s=32&amp;d=mm&amp;r=g\" height=\"32\" width=\"32\" decoding=\"async\"><\/p>\n<p><span><span>By <a href=\"https:\/\/fullycrypto.com\/author\/mahu_bs\" title=\"Posts by Mark Hunter\" rel=\"author\">Designate Hunter<\/a><\/span><\/span><\/p>\n<p><span><\/p>\n<p>9 hours ago<span>Tue Jan 23 2024 09:28:02<\/span><\/p>\n<p><\/span><\/p>\n<\/div>\n<\/header>\n<p><img width=\"1300\" height=\"890\" src=\"https:\/\/fullycrypto.com\/wp-content\/uploads\/2024\/01\/USI-Tech-Founder-Arrested-for-150-Million-Crypto-Fraud.png\" alt=\"USI-Tech-Founder-Arrested-for-$150-Million-Crypto-Fraud\" title decoding=\"async\" fetchpriority=\"high\" recordsdata-layzr=\"https:\/\/fullycrypto.com\/wp-grunt material\/uploads\/2024\/01\/USI-Tech-Founder-Arrested-for-150-Million-Crypto-Fraud.png\"><\/p>\n<div>\n<p><span><span>Reading Time: <\/span> <span>2<\/span> <span>minutes<\/span><\/span><\/p>\n<ul>\n<li aria-level=\"1\"><span>The operator of the USI Tech crypto rip-off has been arraigned in the US, accused of defrauding merchants of $150 million<\/span><\/li>\n<li aria-level=\"1\"><span>Jicha modified into once arrested upon coming into the nation in December, six years after he pulled the shutters down on USI Tech<\/span><\/li>\n<li aria-level=\"1\"><span>The German nationwide allegedly transferred $150 million in bitcoin and ether to accounts under his control following its closure<\/span><\/li>\n<\/ul>\n<p><span>The operator of a <\/span><a href=\"https:\/\/fullycrypto.com\/5-cryptocurrency-scams-that-shook-the-world\"><span>crypto rip-off<\/span><\/a><span>    recognized as USI Tech modified into once no longer too lengthy ago arraigned in the US on prices of duping merchants out of a staggering $150 million. Horst Jicha, a German nationwide, modified into once arrested as he entered the US in late December with plans to shuttle in Miami, Florida. USI Tech promised high investment returns but lied to merchants over the performance of the fund, ceasing all operations in 2018 and blockading merchants from gaining access to their funds. Jicha allegedly transferred bitcoin and ether price $150 million on the time to accounts under his control.<\/span><\/p>\n<h2><span>USI Tech Promised Excessive Returns<\/span><\/h2>\n<p><span>Jicha presented USI Tech as an on-line platform facilitating easy cryptocurrency investments for retail merchants when it modified into once in actuality a multilevel advertising and marketing and marketing scheme. Jicha, recognized as one in every of USI Tech&rsquo;s founders and its Chief Govt Officer, expanded the operation to the United States in 2017, aggressively promoting the platform thru social media and in-particular person shows where he made unfounded guarantees of high returns on investments and providing wrong data in regards to the platform&rsquo;s legality.<\/span><\/p>\n<p><span>Facing regulatory scrutiny in the US in early 2018, USI Tech without note ceased all operations, leaving merchants unable to fetch entry to their funds and main to powerful monetary losses. A indispensable amount of merchants&rsquo; funds, roughly $150 million in bitcoin and ether, modified into once allegedly diverted to <\/span><a href=\"https:\/\/fullycrypto.com\/cryptocurrency-news\"><span>cryptocurrency<\/span><\/a><span>    addresses controlled by Jicha after USI Tech&rsquo;s shutdown.<\/span><\/p>\n<h2><span>A Vacation He Won&rsquo;t Omit<\/span><\/h2>\n<p><span>Jicha, who had no longer returned to the United States for over five years, seemingly belief the float modified into once obvious after six years and entered the US on December 23 in suppose to take a time out to Miami. His shuttle modified into once cut short, then again, when the prices in opposition to him had been unsealed and he modified into once arrested.<\/span><\/p>\n<p><span>He modified into once arraigned last week on the federal courthouse in Brooklyn, going thru prices of securities fraud, wire fraud, and money laundering, and faces years in penal complex for his role in the cryptocurrency scheme.<\/span><\/p>\n<p><span>That&rsquo;s one costly vacation.<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<p><a href=\"https:\/\/fullycrypto.com\/usi-tech-founder-arrested-for-150-million-crypto-fraud?utm_source=rss&amp;utm_medium=rss&amp;utm_campaign=usi-tech-founder-arrested-for-150-million-crypto-fraud\" class=\"button purchase\" rel=\"nofollow noopener\" target=\"_blank\">Read More<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Designate Hunter 9 hours agoTue Jan 23 2024 09:28:02 Reading Time: 2 minutes The operator of the USI Tech crypto rip-off has been arraigned in the US, accused of defrauding merchants of $150 million Jicha modified into once arrested upon coming into the nation in December, six years after he pulled the shutters down<\/p>\n","protected":false},"author":1,"featured_media":9447,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.5 - 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