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After the Israeli police raided their home and seized evidence, they arrested eight suspects in connection with the cryptocurrency fraud scheme. One of the suspects is Moshe Hogeg, the famous owner of the famous football team Beta Jerusalem Football Club.
8 people arrested in Israel’s crypto fraud scheme
Israeli police arrested eight suspects on Thursday, who allegedly stole tens of millions of shekels in a cryptocurrency fraud scheme.
These arrests were made after officers of the Lahav 433 anti-corruption department of the police raided the suspect’s residence and office. They collected evidence and seized items related to the investigation. The police explained in detail that the investigation lasted for several months and discovered suspected money laundering and tax violations.
One of the suspects is Moshe Hogeg, the owner of Beta Jerusalem Football Club, an Israeli professional football club that plays in the Israeli Premier League.
The police explained that the suspect “systematically” implemented a cryptocurrency fraud scheme over a long period of time. The police pointed out that they defrauded investors in several crypto projects and stated:
Everyone made millions of shekels while making false statements to potential investors to invest in seemingly profitable businesses.
In addition to cryptocurrency fraud, the police said Hogeg was also involved in a sex crime. Hogg denied the two allegations.
Hogeg and several others were sued in May by former employees of an Israeli venture capital fund. They claimed that Israel’s three largest ICO (ICO) was a complete scam in 2017 and 2018. The three ICOs launched by Sirin Labs, Stx Technologies Ltd. (Stox) and Leadcoin raised a total of US$250 million from global investors.
Lawyers Moshe Mazor and Amit Hadad, representing Hogeg, said on Thursday that his client “strongly denies suspicion of him and is fully cooperating with investigators.” They added:
We believe that by the end of the investigation, the allegations against him will become baseless.
What do you think of this case? Please let us know in the comments section below.
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