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Israel Police recommend Moshe Hogeg Be Indicted for Fraud

Moshe Hogeg

Moshe Hogeg (LinkedIn)

Moshe Hogeg may soon be indicted in Israel on charges of fraud related to his activities in the cryptocurrency markets. Israel Police said they have recommended to prosecutors that an indictment be filed against him over $290 million in fraud. Specifically, police charge that Hogeg committed “fraudulent offenses under aggravated circumstances, theft by Authorized, money laundering and other crimes.”

In Israel, first the police investigate and then make a formal recommendation on whether there is enough evidence to merit a trial.

This comes more than two years after Moshe Hogeg was arrested on suspicion of fraud in this case as well as sexual offenses. Basically, Hogeg is alleged to have taken funds from investors around the world under the promise of investing it in his crypto business, but instead used it for his personal business ventures. This allegedly happened in 2017 – 2018.

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Moshe Hogeg is an Israeli businessman and serial entrepreneur. He is the founder and chairman of Singulariteam Technology Group, a holding company with investments in technology companies such as MoonActive, Telegram, StoreDot, Heal, Octopus, and General Robotics. He is also the owner of Israel’s largest football club, FC Beitar of Jerusalem.

Hogeg was born in Beersheba, Israel in 1981. He studied computer science at the Technion – Israel Institute of Technology, graduating in 2003. After graduating, he worked as a software engineer for several years before co-founding the Yo app in 2014. The app was a popular messaging app that was acquired by Snapchat in 2014 for $30 million.

After the sale of Yo, Moshe Hogeg became active in the cryptocurrency industry. He founded the Alignment Blockchain Hub, a research and development center for blockchain technology, and donated $1.9 million to Tel Aviv University for blockchain research. He also led three initial coin offerings (ICOs) for his companies Sirin Labs, Stx Technologies Limited, and Leadcoin, raising over $250 million combined.



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