Tel Aviv Court Gives Moshe Hogeg 30 Days to Settle $4M Lawsuit

Moshe Hogeg, the co-founder and chairman of venture capital investment fund Singulariteam, and the alleged head of Stox Technologies, has been given 30 days to settle with a Chinese investor. The disgruntled investor has brought a 17 million Israeli new shekels (approximately $4.23 million) lawsuit against Hogeg for allegedly misappropriating several million dollars worth of funds raised through the Floyd Mayweather-promoted Stox initial coin offering (ICO).

Also Read: In the Daily: Exchange to List STOs, Crypto Tax Tool for Accountants, Coinbase Updates

Sirin Labs CEO Given 30 Days to Settle Lawsuit Alleging Misappropriation of Funds Raised via Stox ICO

Tel Aviv District Court judge Michal Amit-Anisman has given Moshe Hogeg 30 days to reach a compromise with Huwan Hugh, a Chinese investor who filed a multi-million dollar lawsuit against Hogeg in January of this year.

The lawsuit was also brought against the former Singulariteam chief financial officer (CFO) and current Saga Foundation CFO Yaron Shalem and the Stox Technologies company. The complaint alleges that Hogeg intentionally misrepresented how the funds raised through the Stox ICO would be used and distributed.

Moshe Hogeg is also the chief executive officer of cryptocurrency smartphone startup Sirin Labs and owner of the Beitar