After more
than two years since the launch of an investigation into a $290 million
cryptocurrency crime, Israeli police recommended charging the leading figure
behind defrauding thousands of investors. Moshe Hogeg has been accused of
theft, money laundering, and sexual offenses.
Hogeg’s
activity in the cryptocurrency market flourished in 2017 and 2018 when the
market began to boom with initial coin offerings (ICOs). By offering his
cryptocurrency assets to investors in Israel, the accused collected $290
million to finance four fraudulent crypto projects.
Their
implementation never succeeded, and instead, Hogeg used the accumulated fortune
to cover his own expenses. He even became the owner of the football club Beitar
Jerusalem FC.
Moshe Hogeg. Source: LinkedIn
Since the
investigation officially began in 2021, Israeli police have questioned over 180
people and gathered 900 different pieces of evidence in various countries.
Additionally, properties and cash were secured. Seven other people are also
suspected in the case.
Although
all were arrested two years ago, they were released to house arrest a month
later. Now the police have announced that charges against Hogeg and
co-defendants have been referred for review by the prosecution.
In the long
list of crimes attributed to Hogeg, financial fraud, forgery of corporate
documents, money laundering
