Bitcoin

Million

Rise

<div class="watcher-guru"> 
 <p>Police in <a rel="noopener noreferrer nofollow" title="Israel" href="https://thebittimes.com/tag/israel.html">Israel</a> have accused <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> entrepreneur <a rel="noopener noreferrer nofollow" title="Moshe Hogeg" href="https://thebittimes.com/tag/moshe-hogeg.html">Moshe Hogeg</a> and his partners of defrauding investors through a $290 million <a rel="noopener noreferrer nofollow" title="Scam" href="https://thebittimes.com/tag/scam.html">Scam</a> involving multiple projects. The latest allegations come on the heels of a two-year investigation into the former <a rel="noopener noreferrer nofollow" title="Israel" href="https://thebittimes.com/tag/israel.html">Israel</a>i Premier League football team owner.</p> 
 <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
  <div class="wp-block-embed__wrapper"> 
   <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
    <p lang="en" dir="ltr">Israeli police accuses businessman Moshe Hogeg and his partners of defrauding investors of $290 million in a cryptocurrency scam https://t.co/3Nle8Eenqr</p>— Bloomberg Crypto (@crypto) August 23, 2023 
   </blockquote> 
  </div> 
 </figure> 
 <p><strong>Also Read: Binance Might ‘Not’ be Manipulating the Bitcoin Market Yet</strong></p> 
 <div class="quads-location quads-ad33739 " id="quads-ad33739" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;"> 
  <div class="publift-ad add"> 
   <div data-fuse="22560828227"></div> 
  </div> 
 </div> 
 <p>Hogeg targeted Investors under false pretenses for four <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> projects. The entrepreneur then used the money for his own interests from 2017 to 2018. One notable purchase made by Hogeg using allegedly illegal funds was the ownership acquisition of the Beitar Jerusalem Football Club. He shelled out $7 million to buy the team. However, in August 2022, he sold it to entrepreneur Barak Abramov.</p> 
 <p>The police have held Hogeg responsible for committing several financial crimes. They ranged from forgery, money laundering, and tax violations to aggravated fraud, theft by an authorized person, conspiracy to commit a crime, and false registration of corporate documents.</p> 
 <p><strong>Also Read: Europe: Crypto ETP Inflows Rise to ~$230 Million in June, July</strong></p> 
 <h3 class="wp-block-heading" id="h-israeli-police-question-180-witnesses">Israeli police question 180 witnesses </h3> 
 <div class="quads-location quads-ad15192 " id="quads-ad15192" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;"> 
  <div id="primisContainer" class="add"></div> 
 </div> 
 <p>The police want Hogeg to be charged for his offenses. They have submitted their recommendation to <a rel="noopener noreferrer nofollow" title="Israel" href="https://thebittimes.com/tag/israel.html">Israel</a>i prosecutors and asked them to pass judgment. The police revealed that they questioned 180 witnesses, amassed 900 pieces of evidence, and seized some funds and assets.</p> 
 <p>Hogeg was detained in 2021, along with seven others, for committing fraud. However, he was released under house arrest after a month. The entrepreneur has reportedly denied all the&nbsp;accusations&nbsp;against him. He has said that he was oppressed when he was under police custody.</p> 
 <p>The entrepreneur founded the Singulariteam Ltd. investment fund and continues to back Web3 projects. In July, he posted about his involvement with the TomiNet <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> on social media. Tomi is a blockchain project based on an “alternative internet network.”</p> 
 <div class="quads-location quads-ad33742 " id="quads-ad33742" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;"> 
  <div class="publift-ad add"> 
   <div data-fuse="22560828233"></div> 
  </div> 
 </div> 
 <p>He also raised money from American actor Leonardo DiCaprio and Mexican billionaire Carlos Slim for the now-defunct Mobli photo-sharing app. Additionally, he had amassed more than $1 million for an app called ‘Yo’ that let users message each other only using the word “yo.”</p> 
 <p><strong>Also Read: FBI: Lazarus Group Might Sell $40 Million in Bitcoin</strong></p> 
</div> 
<div class="cs-entry__tags"> 
 <ul> 
  <li>crypto</li> 
  <li>Israel</li> 
  <li>Moshe Hogeg</li> 
  <li>Scam</li> 
 </ul> 
</div>

Israel: Crypto Entrepreneur Accused of $290 Million Scam

Table of Contents

TheBitTimes

Other articles published on Aug 24, 2023

Empowering Decentralization: Base’s Journey with the Superchain

Crypto VC inflows drop further as macro factors weigh on investments

Avalanche Price Prediction: Will AVAX Return From the Lowest?

Can Lulu Stock Break Above $400 Mark After Quarterly Earnings?

BlackRock's BTC Wallet Sparks Concerns: A Closer Look at Their Intentions

Bitcoin 'overconfidence reigns' but bulls must reclaim $27.8K — Trader

Join our free newsletter for daily crypto updates!