On August 23, the Times of Israel reported that Israeli law enforcement had alleged that prominent entrepreneur Moshe Hogeg and his colleagues were responsible for a cryptocurrency scam that defrauded investors of $290 million.Â
The accusations state that Hogeg collected significant money from global investors, including Israelis, between 2017 and 2018.
He claimed that the funds were meant to support four different cryptocurrency projects, but these projects were never actually carried out. Instead, Hogeg is accused of using the funds for his spending.
The police talked to about 180 people who were part of the cryptocurrency scam. The officials have found 900 pieces of evidence, money, and property related to the case.
Hogeg has been accused of multiple crimes after the police finished looking into a cryptocurrency scam that took place over two years.
The charges against him include serious fraud, stealing without permission, making fake company papers, creating fake documents, illegally moving money, breaking tax laws, and committing sexual offenses.
The police have passed his cases to legal officials for examination. Additionally, the police have pressed charges against other people involved in various crimes.
Before this, Hogeg was involved in a project with a company called Sirin Labs that focused on making mobile phones using blockchain technology. They even got a famous football player, Leo Messi, to represent their brand and be the face of their project.
Also Read: Israel Passes Bill to Exempt Foreigners from Crypto Taxes
