Kovacs testified that the defendant noted to him that even his rabbi invested in him and succeeded in creating passive income (P. 26.2.2023, p. 213, para. 23; p. 224, paras. 19-25) and also spoke of many customers who, as a result of the investment, are in a comfortable financial situation (P. 26.2.2026, p. 214, paras. 24-34). In addition, the witness noted that the defendant presented him with an annual return of 20% (February 26, 2023, p. 224, paras. 26-32).
Harel testified that the defendant stated to him that an investment in gold is a safe investment (P. 26.2.2023, p. 236, paras. 18-20); And that he did not understand that there was such a significant risk of losing the money. The witness noted in his testimony that although the defendant said that there was a risk that the account would be deleted, the risk was very small, until it did not exist (P/26, 2023, p. 236, paras. 22-26; and see also voice messages that the defendant sent to the witness: P/86 and the transcript P/87; a message recorded in P/88 and the transcript P/89 - it should be noted that these were messages given in answers to Harel's question found in WhatsApp correspondence P/85, p. 19; See also February 26, 2023, p. 237, paras. 30-33). The witness added that the defendant noted that there was a defense, since even during a descent there is a gap and "... Only if it descends in a very, very drastic way in a very, very short time then there is a problem" (P. 26.2.2023, p. 236, paras. 24-27). In the correspondence between Harel and the defendant (P/85, pp. 65-69), Harel writes to the defendant: "My fear is that suddenly it will be against the trend and the fund will disappear..." The defendant responds: "That's why there's a risk management mechanism." Moreover, the witness noted that he had been exposed to publications in which returns of 25% and even more were mentioned, and that the defendant had also spoken to him about a return of 25% per month (P. 26.2.2023, p. 268, paras. 5-9; p. 235, s. 31; p. 236, paras. 1-5).