German Man Accused Of $150 Million Cryptocurrency Fraud Becomes Fugitive

According to BlockBeats, a German man accused of orchestrating a $150 million cryptocurrency fraud has become a fugitive after accepting a $5 million home confinement in New York City. The man, Horst Jicha, was released on bail with his partner and children acting as guarantors. However, Jicha failed to appear in Brooklyn Federal Court as scheduled, prompting an active investigation to locate him, according to John Marzulli, a spokesman for the Brooklyn U.S. Attorney's Office. Marzulli stated that the prosecution will seek to forfeit the $4 million bail guaranteed by Jicha's partner, children, and three other individuals residing in Germany. Additionally, $1 million in cash has been deposited in a U.S. federal government account as part of the bail conditions. Jicha is suspected of tampering with his ankle monitor on October 3. During a hearing on Thursday, a prosecutor from the U.S. Attorney's Office in Brooklyn informed the judge that Jicha's ankle monitor had stopped working. Pretrial services officers had emailed Jicha, requesting him to visit their offices the following day, but he failed to comply. The case has drawn significant attention due to the substantial amount of money involved and the international implications of Jicha's actions. Authorities are now intensifying their efforts to apprehend Jicha and bring him to justice. The situation underscores the challenges law enforcement faces in dealing with high-profile financial crimes, particularly those involving cryptocurrencies.