Moshe Hogeg, sued by his former forex firm invest.com
Invest Dot Com (Israel), a company that previously ran a
forex and cryptocurrency platform and was once owned by crypto entrepreneur
Moshe Hogeg, has filed a creditor request against its parent company, IDC
Investdotcom Holdings, registered in Cyprus, and which it claims is still controlled
by Hogeg.
According to a court filing filed with the Tel Aviv District
Court last week, Invest Dot Com (Israel) is a creditor of its parent company
and is owed NIS 6.1 million (approximately $1.96 million) for services it
provided to its parent company.
IDC Investdotcom is a holding company which according to the
court filing controls several companies in the cryptocurrency sector. It is
also being claimed that Invest Dot Com (Israel) had provided it with
development, management, and administration services.
“The person who managed, initiated, and effectively
controlled the assets and activity of IDC Cyprus and Invest Dot Dom (Israel) is
Moshe Hogeg. Hogeg is registered as a director at Invest Dot Com. In addition,
he also previously served as a director and the chairman of the board of IDC
Cyprus. However, as part of Hogeg’s attempts to avoid the liquidation
proceedings filed against IDC Cyprus in the past, Hogeg canceled his formal
registration as a director and the chairman of IDC Cyprus. However, even after formally
canceling his registration, Hogeg remains a director and the effective
controlling owner of IDC Cyprus, representing it and managing its activity.
Hogeg’s holdings in IDC Cyprus are held through venture capital fund
Singulariteam.”
Hogeg is currently under house arrest after spending 29 days
behind bars in November and December on the suspicion of committing fraud,
money laundering, and sexual offenses. Hogeg, who also owns soccer club Beitar
Jerusalem, denies any wrongdoing.
Hogeg has been sued numerous times over recent years in
relation to his different crypto endeavors. Last year Roee Bruchiel, who claims
to be a childhood friend of Hogeg and who served as his personal assistant, and
Eren Okashi, who served as a bookkeeper at Singulariteam, filed a lawsuit
against Hogeg at the Tel Aviv District Court, suing Hogeg along with several
other businessmen for NIS 18 million ($5.5 million).
The lawsuit claimed that the defendants founded several
companies which later became clear were inactive dummy companies in order to
raise hundreds of millions of dollars in funds under false pretenses. After
each funding round, the defendants completely drained the companies’ coffers,
and left them without any significant activity.
In addition, the plaintiffs claimed that the Singulariteam
fund was used as a platform to raise funds from private and public investors to
create various business ventures and that between 2017-2018 the majority of the
fund’s ventures were in the cryptocurrency sector.
Hogeg vehemently denied the claims and the case is ongoing.
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