"Crypto Entrepreneur Accused of $150 Million Investor Fraud via Marketing Scheme"
German businessman Horst Jicha, CEO of USI Tech, has been charged with defrauding investors of over $150 million through a fraudulent crypto mining and trading platform marketed as accessible to retail investors. Prosecutors allege that Jicha and two co-conspirators lured investors into a multilevel marketing scheme, falsely promising high returns on crypto investments. Jicha, who was arrested upon entering the U.S., faces charges including securities fraud, wire fraud, and money laundering. The indictment claims that around $150 million of investors' money was transferred to accounts controlled by Jicha after USI Tech's U.S. operations were terminated in 2018.