Israeli police arrested eight people in connection to a scheme to steal cryptocurrency. They raided their houses and seize evidence. Moshe Hogeg (a well-known owner and manager of Beitar Jerusalem Soccer Club), is one of the eight suspects.
Eight people arrested in Israel for crypto fraud
Israeli police have arrested eight men accused of stealing millions in cryptocurrency fraud.
The arrests were made after officers from the police’s Lahav 433 anti-corruption unit raided the suspects’ homes and offices. The officers seized evidence related to the investigation and took items. They uncovered suspected tax crimes and money laundering over a period of several months.
Moshe Hogeg is one of the suspects. He owns Beitar Jerusalem Football Club which plays in Israel’s Premier League.
The police explained that the suspects operated a cryptocurrency fraud scheme “in a systematic manner“ over a long period of time. Police noted that they had defrauded many investors in various crypto projects.
They made false representations to investors in order to get money for seemingly lucrative ventures.
Hogeg, in addition to being accused of cryptocurrency fraud and sexual offences by police officers was also reported. Both allegations have been denied by Hogeg.
Hogeg and several others were sued in May by former employees of an Israeli venture capital fund who claim that three of Israel’s largest initial coin offerings (ICOs) in 2017 and 2018 were outright scams. These three ICOs were launched by Sirin Labs and Stx Technologies Ltd. (Stox) together raising $250 million from global investors.
Attorneys Moshe Mazor and Amit Hadad representing Hogeg said Thursday that his client “vehemently denies the suspicions against him and is cooperating fully with investigators.” They added:
It is certain that the investigations will reveal that the charges against the accused are unfounded.
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