Horst Jicha blew $1.5 mill of USI-Tech funds chasing magic energy
Outside of a yellow Lamborghini that may or may not belong to Ralf Gold, there hasn’t been much information on what the millions USI-Tech investors lost has been spent on.
Following the filing of a lawsuit by Horst Jicha, we can now account for an additional $1.5 million in stolen USI-Tech investor funds.
Last October, USI-Tech announced it had worked out how to
be 95% more efficient in producing electricity with revolutionary magnetic power innovation, heating and cooling innovations, artificial intelligence.
Putting aside the fact that the majority of USI-Tech’s ROI revenue was recycled new investment, the company claimed this “new technology” would be implemented in their mining operations.
As stated by USI-Tech investor Vitaliy Dubinin at the time;
No one will come close to the amount of revolutionary technology!
They were able to reduce the cost of mining by 95% and they will absolutely crush it everyone!
None of that happened and of course USI-Tech went on to collapse in January.
But what was happening on the backend to prompt USI-Tech’s energy announcement?
On June 1st USI-Tech owner Horst Jicha filed a lawsuit against Ahern Energy and operator Evan Ahern.
According to Jicha’s Nevada lawsuit, on or around October 24th 2017, Jicha loaned Ahern Energy $1.5 million.
The loan had an agreed 12% p.a. interest rate, with a payback deadline of April 24th, 2018.
The agreement between Jicha and Ahern purportedly ‘granted Jicha a security interest in all of Ahern Energy’s rights, title to and interest in the WYO Tech Entities‘.
A since-deleted YouTube video confirms USI-Tech’s plans for 95% more efficient energy rested with Ahern Energy and Evan Ahern.
The plan appears to have been dump $1.5 million with Ahern in exchange for 95% more efficient magical energy creation.
According to USI-Tech marketing material, Ahern’s magic energy was to be delivered via an “asymmetric permanent magnet generator“.
So here’s the thing, April 24th rolled around and Jicha received neither his magic energy or loan back.
In fact as of Jicha’s June 1st lawsuit, Ahern Energy or Evan Ahern have responded.
Jicha is asking for the return of “his” $1.5 million, plus interest and legal costs.
On September 6th the Ahern defendants filed a response to Jicha’s lawsuit. Being a District Court case however, unfortunately I don’t have access to specific filings.
We’ll keep you updated based on the court docket but in the meantime, two points come to mind;
- Jicha has filed his lawsuit as an individual. There’s no mention of USI-Tech or the plan to use Ahern’s magic energy for mining. Gee, I wonder why?
- A scammer scams people for $1.5 mill through a Ponzi scheme, and then loses the money to another scammer in an 95% more efficient energy scam.
It cost me a lot to learn what I learned;
but if I keep silent; I only get burned.
What’s good for this Goose, ain’t good for the gander.
SAYING FLY to higher Heights, so no one will land there…
USI Tech and Tech Coin you see;
is no place to land,
learn a lesson from me.
Kind of amusing that Horst Jicha was investing “his own” money at 12% a year while telling the USI-Tech suckers that he could make them 400% a year.
Now he can’t get the $1.5 million back?
“You can’t cheat an honest man”
Jicha has, thanks to the default on the loan, acquired the rights to perpetual motion technology which were offered as security to that loan, and he’s going to give it up for a lousy $1.5 million plus interest and legal costs?
A scammer conned by a scammer. Old Horst was always full of horse shit.
I asked it in my comment to an older post in this same site:
The last option would create a perpetual motion machine so I leave that one be.
The other options would have produced 6% to 10% more electricity per dollar.
Let’s for the sake of argument assume that in the past it took $1 000 worth of electricity to earn one bitcoin as a mining reward. With this “95% more efficient” it would have cost either $905 to $947 to earn that same bitcoin instead.
The insane ROIs promised to investors were supposed to be paid with the cost-saving that is in the scale that upgrading the mining rig already provides. The cost difference is nowhere in the scale to pay off the ROIs expected.
It simply tells how little of elementary school physics and basic math Jicha was able to master if he indeed believed that Ahern Energy could decrease the price of electricity by 95% using some magical extraction method in the generator phase of the process.
Scammer scamming the scammer is putting this story to a completely new level, though.
Over the weekend of 8/9 Sept 2018, the USI-TECH website was upgraded for some reason.
After I managed to log on to the new website, I noticed that all history of my BTC 1.0 packages and any repayments were missing.
They also post the “Company Wallet” for transparency to track payments nl blockchain.com/btc/address/31hz6on72CaDjHLFQoRifUFQHcx8CwesnC.
I noticed that on 7 Sep 18 a withdrawal of 44.5 Btc was made and on 8 Sep 18 another withdrawal 385.9 Btc. The wallet has basically been cleared and I don’t know if this is the final nail in the coffin.
Can you investigate this further?
If the wallets are empty that you can verify were deposited into through USI-Tech, then yeah your money is gone.
You should have already realized this though before you invested. And again when they cleared out the ETH wallet(s) the first time.
Ahern wouldn’t have been stupid enough to reinvest the $1.5 mill in USI Tech in the expectation of super humongous returns would he ?
Doubt it. That would put the money back into the hands of Jicha thus no need for a lawsuit.