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Police in Israel have officially recommended that controversial hard-partying entrepreneur Moshe Hogeg and seven unnamed partners be charged with defrauding investors out of nearly $300 million in a crypto scam. As reported by Bloomberg, the potential charges, which include fraud, theft, money laundering, forgery, and tax offenses, follow a two-year investigation during which police seized assets, collected 900 pieces of evidence, and questioned 180 witnesses. It’s alleged that Hogeg and his associates took millions of dollars from Israel i and foreign investors on the understanding that the money would be invested in four crypto start-ups. However, they apparently put the funds to their own personal use. Prosecutors will now decide whether to act on the recommendation. Hogeg’s offices hosted drug-fuelled orgies Hogeg was arrested back in 2021 at the offices of Beitar Jerusalem FC, the soccer club he owned until August 2022. The arrest came six months after two of his em...

Brooklyn federal court charged a former investment banker for allegedly taking investors’ money under the pretext of making profitable crypto investments. The federal court in Brooklyn, New York, charged a former investment banker and registered broker for alleged ly defraud ing numerous investors by promising profits on fake crypto currency Investments and misappropriating the funds received to finance his lifestyle.  Documents with the court claim the defendant, Rashawn Russell, misused the growing interest in crypto investments to mislead investors. Russell convinced multiple investors to reinvest their fiat savings into cryptocurrencies, often promising significant or “guaranteed” returns. However, it is alleged that Russell misappropriated the investors’ money to fund his personal lifestyle. Breon Peace, United States attorney for the Eastern District of New York, revealed the court’s intent to pursue the case against the former banker : “As alleged, Russell turned the demand...