Israeli Entrepreneur Accused of Defrauding Users of $290 Million in Crypto Scams
Summary:
Israeli entrepreneur Moshe Hogeg is facing police accusations of defrauding users of $290 million through crypto scams. The police have recommended charges of fraud, theft, money laundering, and sex crimes against Hogeg. This follows a two-year investigation into his alleged illegal activities, including involvement in cryptocurrency projects. Hogeg denies the allegations. US enforcement agencies are also cracking down on crypto-related crime.
An Israeli entrepreneur named Moshe Hogeg is facing accusations from the police of defrauding users out of approximately $290 million through scams involving cryptocurrency projects. The national police force has recommended charging Hogeg with fraud, theft, money laundering, and sex crimes after accusing him of deceiving investors and raising funds under false pretenses for crypto ventures. Hogeg had undergone previous detention in November 2021 for alleged involvement in unlawful activities, including cryptocurrency fraud, which resulted in a month-long house arrest. The police investigation, which lasted two years, focused on Hogeg's illicit activities, including those pertaining to cryptocurrency projects. In June, Hogeg traveled to Morocco, where he announced his participation in Tomi, a blockchain project centered around an "alternative internet network." He expressed his belief that, as a prominent figure in the crypto industry, he may have become a target of authorities. The police investigation involved interrogating 180 individuals and seizing assets and funds in multiple countries. Hogeg's spokesperson welcomed the investigation's conclusion and criticized several publications for unfairly portraying him. Hogeg firmly denies all allegations against him. Some of the allegedly illegal funds were used by Hogeg to purchase ownership of the Beitar Jerusalem football club for $7 million. He later sold the team to businessman Barak Abramov in August 2022. Recent reports suggest that US enforcement agencies are intensifying their efforts against crypto-related crime.
Published At
8/23/2023 7:40:00 PM
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