Report: Allegations of $290 Million Crypto Fraud, Theft, and Money Laundering Against Tech Entrepreneur

Accusations of Nearly $300 Million in Potential Crimes Surrounding Serial Tech Entrepreneur

Israeli law enforcement authorities are leveling serious accusations against Moshe Hogeg and his associates, alleging a complex web of wrongdoing that led to the defrauding of investors to the tune of $290 million during fundraising campaigns for cryptocurrency ventures in 2017 and 2018. Israeli national police are recommending a list of charges against Hogeg, which include "fraud, theft, money laundering, forgery, and tax offenses." Additionally, they are urging prosecutors to review evidence of other potential crimes.

According to the police investigation, Hogeg and his associates purportedly diverted millions of dollars, sourced from both Israeli and international investors, who had contributed funds between 2017 and 2018, meant for four separate cryptocurrency startups, for their personal enrichment. The investigative process involved interviewing 180 witnesses, collecting 900 pieces of evidence, and seizing funds and assets.

A spokesperson for Hogeg and his co-accused expressed their perspective, stating, "We welcome the conclusion of the investigation and the transfer of the case to the State Prosecutor’s Office. 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."

Moshe Hogeg, an Israeli entrepreneur and businessman, has a notable track record as the founder of various technology companies, including Sirin Labs, which focuses on developing blockchain-based smartphones and devices for the cryptocurrency market. In 2021, Hogeg and seven others were detained in connection with this case and subsequently placed under house arrest.

Sep 06, 2023