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After a two-year investigation into the matter, Israeli police accused crypto investor Moshe Hogeg and his associates of their involvement in a $290 million crypto scam.
On Wednesday, The Times of Israel reported that police accused crypto businessman and former Beitar Jerusalem FC owner Moshe Hogeg of raising $290 million from investors under false pretences.
Police Recommend Charging Hogeg With Fraud
After a two-year investigation, the Israeli police have recommended that crypto businessman Moshe Hogeg be charged with fraud, money laundering, theft, and sex crimes.
Police accused Hogeg of raising $290 million from unsuspecting investors from Israel and worldwide for four cryptocurrency projects. The police, citing a “wide range of evidence,” allege Hogeg and several of his partners used the funds for personal interests from 2017 to 2018. The Israeli police also found evidence of sexual offences and “serial violations of women’s privacy.”
According to reports by Bloomberg, police questioned 180 witnesses, collected 900 pieces of evidence, and seized some of Hogeg’s assets and funds.
Hogeg Accused of Financial Crimes
The Times of Israel reports that police have accused the investor of committing various financial crimes, including money laundering, forgery, tax violations, aggravated fraud, theft by an authorized person, conspiracy to commit a crime, and false registration of corporate documents.
Police have submitted their recommendations to Israeli prosecutors, who will determine if he will be prosecuted.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.