Israeli authorities have made accusations against Israeli crypto entrepreneur Moshe Hogeg and his associates. They allege their involvement in a fraudulent scheme totaling $290 million across multiple projects. Moreover, these claims come after a comprehensive two-year investigation into Hogeg, the former owner of an Israeli Premier League football team.
Reportedly, Hogeg and his accomplices deceived investors by misrepresenting information. They diverted funds between 2017 and 2018 for their personal gain. Hogeg used the allegedly illicit funds to acquire ownership of the Beitar Jerusalem Football Club for $7 million.
However, in August 2022, he transferred ownership to entrepreneur Barak Abramov. Law enforcement has attributed an extensive range of financial offenses to Hogeg. These include forgery, money laundering, tax infringements, aggravated fraud, theft by an authorized individual, conspiracy to commit a crime, and falsification of corporate records.
Israeli Crypto Entrepreneur’s Legal Saga and Ventures: Accusations, Releases, and Past Initiatives
Notably, authorities have interviewed 180 witnesses during their investigation. They’ve collected a substantial 900 pieces of evidence and seized various assets and funds. Israeli Prosecutors have received a recommendation, urging charges against Hogeg. In 2021, Hogeg faced legal trouble, being detained alongside seven others for alleged fraudulent activities.
Subsequently, after a month in custody, he was released under house arrest, maintaining his innocence throughout the process, and stating that he felt unfairly treated during his time in police custody.
Interestingly, the entrepreneur established the investment fund Singulariteam Ltd. and continues to support Web3 projects. He recently shared his involvement in the TomiNet crypto venture on social media, which revolves around an “alternate internet network.”
Hogeg’s past initiatives include securing funding from renowned actor Leonardo DiCaprio and Mexican mogul Carlos Slim for the now-defunct Mobli photo-sharing application. Additionally, he garnered over $1 million for an app named ‘Yo,’ enabling users to communicate solely using the word “yo.”
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