Three Israeli ICOs Being Looked at For Fraud

Last Updated on June 2, 2021 by Jason

Three ICOs from Israel are being investigate for fraud. All are linked to Moshe Hogeg, an entrepreneur. The lawsuit claims that the coins, called Leadcoin, Stox and Sirin Labs, had managed to raise $250 million from investors, but the companies didn’t develop the products as had been promised.

Instead, it is alleged that the money was taken for personal use. Hogeg has denied the allegations so far. Eran Oakshi and Roee Brocial have brought the lawsuit, worth $1.6 million, against Hogeg and a number of others allegedly involved in the scheme, including Adi Sheleg and Avishai Ziv.

Fraud

The plaintiffs are supposedly on unpaid leave. They claim that they were asked to invest their own money in the three tokens, and after encouraging friends and family to as well, suffered from financial harm and emotional trauma.

This isn’t the first lawsuit that Hogeg is involved in. In fact, he has been associated with a number of lawsuits over the years, including one alleging that he didn’t pay factory bills.

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Jasonhttps://earthweb.com/
Hi! I'm the editor at EarthWeb. I have a deep interest in technology and business. I also enjoy testing products out. Contact me to be featured!

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