A German man accused of orchestrating a $150 million cryptocurrency scam is now a fugitive after accepting a $5 million house arrest in New York City, according to BlockBeats. The man, Horst Gescha, was released on bail with his partner and children as guarantors. However, Gescha failed to appear in Brooklyn federal court as scheduled, prompting an active investigation to locate him, according to John Marzulli, a spokesman for the U.S. Attorney’s Office in Brooklyn.
Marzoli said prosecutors will seek to forfeit the $4 million bail that Jisha’s partner, children and three other individuals residing in Germany had posted. In addition, $1 million in cash was deposited into a U.S. federal government account as part of the bail conditions. Jisha is suspected of tampering with his ankle monitor on Oct. 3. During a hearing Thursday, a prosecutor from the U.S. Attorney’s Office in Brooklyn informed the judge that Jisha’s ankle monitor had stopped working. Pretrial services officers emailed Jisha, asking him to visit their offices the next day, but he failed to comply.
The case has received significant attention due to the large sum of money involved and the international ramifications of Jisha’s actions. Authorities are now stepping up their efforts to apprehend Jisha and bring him to justice. This situation underscores the challenges law enforcement faces in dealing with high-profile financial crimes, especially those involving cryptocurrencies.
Disclaimer: Contains third party opinions. Not financial advice. May contain sponsored content. See terms and conditions.
