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Beitar Jerusalem announces sale to French businessman as Hogeg battles charges

15 10 5

The Beitar Jerusalem soccer team said Thursday it will be sold to a French businessman, as its current owner battles allegations of sex crimes and massive financial fraud.

The soccer club said it had signed a memorandum of understanding for the sale to French-Jewish businessman Stefan Malul.

The two sides will conduct a short due diligence process, then sign a final agreement for the sale, the team said.

Malul will transfer $1 million into a trust as part of the agreement as a guarantee for the execution of the sale, and after the sale, he will assume all of the club’s liabilities, the team said.

The announcement did not disclose the final price for the team.

The club’s current owner, Moshe Hogeg, was arrested late last year for alleged sex crimes and cryptocurrency fraud. He was held for nearly a month before being released to house arrest on bail and other financial guarantees amounting to around NIS 70 million ($22 million) in total.

Hogeg was........

© The Times of Israel

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