More than a year has passed since Ponzi scammer Renwick Haddow pleaded guilty to fraud in relation to the Bar Works and Bitcoin Store schemes. Since then, however, he has co-operated with the US authorities, a factor that may heavily influence his sentence.
On October 15, 2020, the United States Department of Justice (DOJ) filed a Letter with the New York Southern District Court regarding the upcoming control date for Haddow’s sentencing.
The Government notes that the defendant’s cooperation continues. It therefore requests that a new control date be set for three months from now on a date convenient to the Court. Put otherwise, the case is poised for further delay.
Renwick Haddow pleaded guilty on May 23, 2019, to one count each of wire fraud and wire fraud conspiracy relating to the Bar Works scheme, and one count each of wire fraud and wire fraud conspiracy relating to a separate investment scheme involving Bitcoins.
Haddow was charged by Complaint in June 2017 for engaging in schemes to defraud victims by making material misrepresentations and misappropriating investment funds in Bitcoin Store and Bar Works Inc, as well as related entities he controlled.
From November 2014 through June 2017, Haddow solicited investments in start-up companies he created and controlled, including Bitcoin Store – a purported online platform for purchasing, selling, and storing the digital currency known as “Bitcoin” – and Bar Works, which purports to be a company that adapts former restaurants, bar premises, and other locations into co-working spaces. When doing so, Haddow made material misrepresentations about, among other things, the management, operations, and historical performance of those companies.
In July 2017, Haddow was arrested in Morocco on the basis of a provisional arrest warrant for participating in these schemes.