Israeli entrepreneur Moshe Hogeg, whose mother is originally from Morocco, is facing accusations of orchestrating cryptocurrency scams that allegedly defrauded clients of around $290 million.
The Israeli police have recommended charges including fraud, theft, money laundering, and even sexual crimes.
Hogeg’s connection to Morocco has also come to light, notably in relation to projects involving cryptocurrency.
Hogeg unveiled his participation in the Tomi blockchain project at a conference at the Royal Mansour in Marrakech during the Nakamoto Forum (June 5-8), with the objective of introducing the new cryptocurrency, Tomi.
This isn’t Hogeg’s first encounter with the law. He was previously arrested in November 2021 for similar allegations, spending a month under house arrest.
The recent revelations follow a two-year investigation into his activities, some of which were tied to cryptocurrency projects.
The police probe involved interrogating about 180 individuals and seizing assets across multiple countries.
Hogeg has denied all allegations.
Interestingly, some of the purportedly illicit funds were used for acquisitions, including $7 million for the purchase of the Beitar Jerusalem football club, later sold in August 2022.