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Crypto Fraud Escape Scammer Flees NYC on $5M Bond

Key Points:

Horst Jicha’s crypto fraud escape unfolded after his ankle monitor failed, leaving authorities scrambling to locate him after skipping his court appearance.
The crypto fraud escape follows Jicha’s $5M bond release, with law enforcement now pursuing the scammer accused of running a $150M crypto Ponzi scheme.

Horst Jicha, accused of crypto fraud, escaped NYC home detention after his ankle monitor malfunctioned, evading a $5M bond. The crypto fraud escape now has authorities searching for him.

Horst Jicha’s Crypto Fraud Escape from NYC

Horst Jicha, a German fraudster, disappeared in New York while on a $5M bond. He had been accused of operating the USI Tech $150M Ponzi scheme, which promised investors 140% returns. According to DL News, prosecutors are attempting to get the hunt for him underway after his anklet detector stops sending signals, freeing him to skip court dates.

Rising Crypto Fraud Losses in 2023 Reported by FBI

Crypto fraud is flying high: the IC3 said it received more than 69,000 complaints in 2023 with losses of $5.6B. While crypto fraud comprises just 10% of all financial fraud cases, these scams are responsible for nearly half of all dollars lost due to bad actors leveraging FOMO to target consumers.

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William

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