AnyOption Shareholders File Lawsuits Against One Another

A legal dispute has arisen between shareholders in AnyOption Holdings (AOH) - formerly one of the key players in the binary options business.

According to a report by Israeli outlet Globes, Moshe Hogeg, the CEO of venture capital fund Singulariteam, filed a lawsuit in Cyprus against the former owners of AOH this Wednesday.

Hogeg, who also owns football team Beitar Jerusalem, acquired AOH in June of 2017 after legislators in Israel banned the sale and Marketing Marketing Marketing is defined as the business process of identifying, anticipating and satisfying customers' needs and wants.This is a crucial element of any operation or brokerage in the financial services space. Well-funded marketing campaigns are instrumental to the survival and longevity of these companies in an increasingly competitive industry.Within the forex space, marketers perform a wide range of functions to help procure, secure, or retain clients.In particular, newer forex brokers also have t Marketing is defined as the business process of identifying, anticipating and satisfying customers' needs and wants.This is a crucial element of any operation or brokerage in the financial services space. Well-funded marketing campaigns are instrumental to the survival and longevity of these companies in an increasingly competitive industry.Within the forex space, marketers perform a wide range of functions to help procure, secure, or retain clients.In particular, newer forex brokers also have t Read this Term of binary options.

That deal was carried out via IDC Investdotcom (IDC), a company based in Cyprus that issues Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term and which is itself owned by IDC Israel - a holdings company based in Israel of which Hogeg is the sole director.

The lawsuit filed by Hogeg on Wednesday accuses AOH’s owners of misleading IDC and its investors.

Lawyers representing Hogeg and IDC claim that they were made to believe that AOH had holdings of $7 million in cash. But once IDC took control of the company they found its debts far exceeded the value of its cash holdings.

“The shareholders of AOH,” said a statement by IDC’s lawyers, “cheated [IDC] with a false and tendentious representation [of the company’s holdings].”

AnyOption Shareholders respond

A day after this was filed, 17 shareholders in AOH filed a lawsuit in Israel against Hogeg and IDC.

They claim that Hogeg essentially looted the company of all its assets and is unable to make any profit with IDC. According to a statement released by AOH lawyers;

“[IDC] has no ability to finance its monthly expenses from independent sources, and requires external funding every month to pay salaries to employees.”

AOH’s shareholders claim that this state of affairs means IDC should be liquidated itself and any of its assets used to compensate for losses incurred by AOH shareholders.

This is the second time in under a week that Hogeg has been accused of fraud. On Monday, he was accused of running away with cash raised to fund Stox - a cryptocurrency he launched last year.