USI Tech Founder Horst Jicha Lost $1.5 Million With Ahern Energy, Files Lawsuit
Horst Jicha Lost $1.5 Million of USI Funds
Horst Jicha recently filed a lawsuit and with it, it became clear that USI-Tech had stolen an additional $1.5 million of investor funds.
Last October, the platform announced that it had determined how it could “be 95% more efficient in producing electricity with revolutionary magnetic power innovation, heating and cooling innovations, artificial intelligence.” Most of the platform’s revenue was received from new investment, not actually from the technology implemented in its mining operations.
A USI-Tech investor stated 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!”
Well, as many can surmise, that was a stellar overstatement. In reality, the only thing that occurred was that USI-Tech collapsed in January.
Further, several months ago, USI-Tech owner Horst Jicha filed a lawsuit against Ahern Energy and its operator Evan Ahern. The lawsuit claims that Jicha loaned Ahern $1.5 million, with a 12% interest rate and a payback deadline of April 24, 2018. The agreement further guaranteed Jicha a “security interest in all of Ahern Energy’s rights, title to and interest in the QYO Tech Entities.”
Interestingly enough, there is speculation that there has been a since-deleted YouTube video that confirms USI-Tech’s plans for 95% more efficient energy was the role of Ahern Energy and Evan Ahern. The plan was to dump $1.5 million in Ahern’s system in exchange for 95% more efficient magical energy. The “magic energy” was to be delivered by “asymmetric permanent magnetic generator.”
As for April 24, 2018, no delivery took place. Jicha requested that Ahern return his $1.5 million, plus interest and legal costs. On September 6, 2018, Ahern responded to the lawsuit. There is no indication of where the case is proceeding, but that will come as filings appear on the court docket.