Moshe Hogeg, an entrepreneur from Israel, is reportedly facing accusations of defrauding users out of approximately $290 million through crypto projects. Israel’s national police have recommended charges of fraud, theft, money laundering, and sex crimes against Hogeg. It’s claimed that he raised $290 million from investors for crypto projects using deceptive tactics. Hogeg had previously been detained in November 2021 for alleged unlawful activities involving cryptocurrency and spent about a month under house arrest.
The investigation, spanning two years, focused on Hogeg’s purported illegal activities, some related to cryptocurrency projects. Hogeg’s involvement in a blockchain project called Tomi was announced during a trip to Morocco in June. He mentioned concerns of becoming a target for authorities due to his presence in the crypto industry.
The police inquiry involved interrogating 180 individuals and seizing assets in various countries. Hogeg’s spokesperson welcomed the investigation’s conclusion and criticized media coverage for alleged bias. Hogeg has denied all allegations.
Notably, some of the funds obtained through alleged fraud were reportedly used for significant purchases, including acquiring ownership of the Beitar Jerusalem Football Club for $7 million. The club was later sold to businessman Barak Abramov in August 2022.
By FCCT Editorial Team
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