Moshe Hogeg, the owner of  the Beitar Jerusalem Football Club, has been arrested on Thursday following crypto-related fraud as well as alleged sexual offenses. 

“Hogeg vehemently denies the suspicions against him and is cooperating fully with the investigators,” his attorneys Moshe Mazor and Amit Hadad said in a joint statement. “We are sure that at the end of the investigation it will become clear that there is no basis for the allegations against him.”

Local media reported that Moshe Hogeg, who owns the Israeli Premier League football club, committed fraud that involved deceiving a number of people into investing in crypto ventures that were fabricated. 

Six other members were involved in the scandal, following an investigation that uncovered money laundering and tax offenses. A statement by the Police noted that they “acted jointly in a systematic manner, while deceiving investors in a number of projects in the field of cryptocurrencies”.

Defending attorneys Amit Hadad and Moshe Mazor also released a statement denying all suspicions and stating that Hogeg is cooperating with prosecutors. Hogeg shared a post on Facebook cancelling a cryptocurrency conference that he had scheduled. He wrote: “Had to postpone today’s conference, I apologize,” Hogeg wrote on Facebook. “It’s for the best.”

The businessman has faced a number of lawsuits in recent years, from investors claiming Hogeg had defrauded them. In 2018,  Hogeg faced a $5 million lawsuit following the alleged fraud involving the shares of Mobli, a photo and video-sharing company founded by Hogeg and his brother, Oded. On another occasion, Hogeg faced another lawsuit after Japanese investor Zhewen Hu filed a NIS 17 million against Hogeg and his crypto company Stox.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.