Moshe Hogeg encounters accusations of abusing initial coin offering funds

Moshe Hogeg encounters accusations of abusing initial coin offering funds
Nov 28, 2018 by Rico Wise

17 people, claiming to own the shares of IDC Investdotcom Holdings, which is the firm related to Hogeg and is commonly known as Invest.com, have submitted a petition with demand of company liquidation. Tel Aviv court has appointed a temporary liquidator, according to local media reports.

The said 17 people are all former shareholders of AnyOption, a binary options company that is currently obsolete. According to the filed petition, there is an existence of close connection between the blooming digital currency sector of Israel and the industry of binary options that has been recently prohibited in the country.

The claimants have insisted that despite the company’s Cyprus registration, IDC Investdotcom Holdings is operated dominantly from Israel. Subsequent to successfully gathering millions of US dollars in the course of two initial coin offerings, Hogeg has allegedly held onto the profits, putting them to his personal needs and never sharing them.

According to the petitioners, AnyOption and Invest.com have concluded a merger agreement In June 2017, when it occurred that the binary options company could not proceed doing business anymore due to the then-upcoming prohibition on such options. As per the amended agreement terms, shareholders of AnyOption had the title to 3.5 million dollars from Invest.com and shares of Stox, a digital currency company that was launched.