Israeli police have arrested eight suspects in connection with a cryptocurrency fraud scheme after raiding their homes and seizing evidence. One of the suspects is Moshe Hogeg, a well-known owner of the premier soccer team Beitar Jerusalem Football Club.

8 People Arrested in Crypto Fraud Scheme in Israel

Israeli police arrested eight suspects Thursday allegedly stealing tens of millions of shekels in a cryptocurrency fraud scheme.

The arrests were made after officers from the police’s Lahav 433 anti-corruption unit raided the suspects’ homes and offices. They gathered evidence and seized items related to the investigation. The investigation lasted several months and unearthed suspected money laundering and tax offenses, the police detailed.

One of the suspects is Moshe Hogeg, an owner of Beitar Jerusalem Football Club, an Israeli professional soccer club that plays in the Israeli Premier League.

The police explained that the suspects operated a cryptocurrency fraud scheme “in a systematic manner“ over a long period…

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