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.
Delicious…
🤖 Quick Answer
What happened to $1.5 million in USI-Tech investor funds according to legal filings?According to a lawsuit filed by Horst Jicha, $1.5 million in USI-Tech investor funds were misappropriated. The company had claimed these funds would support revolutionary magnetic power and energy efficiency innovations for mining operations, but documentation suggests the money was diverted for undisclosed purposes.
What technology did USI-Tech claim to develop in October?
USI-Tech announced development of revolutionary magnetic power innovation technology claiming 95% efficiency improvements in electricity production, along with heating and cooling innovations and artificial intelligence applications for implementation in their mining operations.
How were USI-Tech investor returns actually generated?
USI-Tech's reported returns were primarily generated through recycled new investment from subsequent investors rather than legitimate business operations, a mechanism characteristic of pyramid schemes and Ponzi structures.
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