The co-founder and chairman of venture capital investment fund Sungulariteam and as well as the alleged head of Stox Technologies, Moshe Hogeg has been allowed 30 days to settle with a Chinese investor. The dissatisfied investor has provided a 17 million of Israeli new shekels that is approximately $4.23 million of lawsuit against Hogeg for accused allegedly misappropriating several million of dollars worth of the funds raised through the Stox initial coin offerings (ICO) promoted by Floyd May weather.

As per the local media outlet Globes, the judge Amit Anisman brought bothe the parties to the temporary agreement after three hours of the discussions stating that requests will not be made at this time rather the parties will come directly or by a third party who would act as a mediator. The judge also recommended Meira Harel as a possible mediator because Harel is described as an expert in the field of cryptocurrencies.

Globes has also reported that it was agreed moreover that after a period of 30 days of a longer period of time the parties request an agreement to extend the 30 days that has been granted to them where each party will be entitled to petition the court with a request to make a decision on the pending applications. The judge Amit Anisman noted that the case also raises serious questions that have not yet been answered neither is Israel not by any regulators in the world.

LEAVE A REPLY

Please enter your comment!
Please enter your name here