Israeli police say ex-soccer team owner defrauded investors in $290 million crypto scam: Bloomberg

Israel police alleged that ex-soccer team owner Moshe Hogeg and his partners defrauded investors of $290 million in a cryptocurrency scam, according to Bloomberg News. 

Hogeg, who was the former owner of an Israeli Premier League soccer team, should be charged with fraud, theft, money laundering, forgery and tax offense, the national police said on Wednesday. That recommendation was submitted to Israeli prosecutors, who will decide whether to pursue charges, Bloomberg reported. 

Bloomberg reached out to Hogeg’s attorney, who did not immediately respond to a request for comment. 

A widespread investigation

Hogeg, and some of his associates who were not identified on Wednesday, are accused of using millions of dollars that were raised in 2017 and 2018 for four crypto startups. Police said they spoke with 180 witnesses and collected 900 pieces of evidence, Bloomberg reported. 

Hogeg has been linked to actor Leonardo DiCaprio and Mexican billionaire Carlos Slim, who he convinced to invest in a startup, according to Bloomberg. 

Hogeg too has been active on X, formerly known as Twitter, and has tweeted crypto news over the past week.