The present paper formulates the theory of spontaneously emitted electromagnetic (EM) fluctuations in magnetized plasmas containing particles with an anisotropic suprathermal (bi-Kappa) velocity distribution function. The formalism is general applying for an arbitrary wave vector orientation and wave polarization, and for any wave-frequency range. As a specific application, the high-frequency EM fluctuations emitted in the upper-hybrid and multiple harmonic electron cyclotron frequency range are evaluated. The model predictions are confirmed by a comparison with the particle-in-cell simulations. Theoretical analysis and numerical simulations are carried out for an isotropic Kappa but the formalism can be applied for any anisotropic distributions, as well as for lower frequencies ranges which involve the ion response.