Israeli law enforcement recently accused businessman Moshe Hogeg of defrauding investors through a crypto scam involving hundreds of millions of dollars. Following a two-year investigation, the Israeli police recommended multiple charges against Hogeg, who previously owned an Israeli Premier League soccer team.
According to a recent report by Bloomberg, the Israeli National Police accused Hogeg and his partners of defrauding investors to the tune of $290 million. In a submission to Israeli prosecutors, the national police recommended charges including money laundering, aggravated fraud, theft, forgery, and tax offenses against the businessman and his partners.
Speaking on the Hogeg case, the State Prosecutor’s Office stated:
We are convinced that after examining the case by the State Prosecutor’s Office, it will become clear that things are completely different from the various publications published over the years that did a great injustice to Moshe Hogeg.
Investigators in charge of the case stated that Hogeg and his partners allegedly diverted millions of dollars raised for his crypto startups, for their personal use. The funds were reportedly raised from Israeli and foreign investors for four cryptocurrency startups between 2017 and 2018. The Israeli National Police’s allegations were based on the testimonies of 180 witnesses, hundreds of pieces of evidence, and seized assets.
Hogeg previously had a run-in with Israeli law enforcement after he was arrested in November 2021 on suspicion of cryptocurrency fraud involving hundreds of millions of dollars. At the time, the Israeli police suspected Hogeg and seven of his associates of enticing investors into crypto projects that never came to fruition.
In July 2023, Hogeg took to X (formerly Twitter) to endorse tomiNet, a crypto project that revolved around freedom of speech. The Israeli businessman told his followers that he had invested in the project and also served as an advisor.
