Co-conspirator of Ponzi scammer Renwick Haddow pleads not guilty to FCA charges
There has been some development in the criminal proceedings brought by the UK Financial Conduct Authority (FCA) against Stephen Allen.
The FCA says that Stephen Allen has pleaded not guilty by video link at Southwark Crown Court to the charge that he conspired with Ponzi scammer Renwick Haddow to pervert the course of justice.
Mr Allen was granted unconditional bail by His Honour Judge Hehir pending a trial. The trial is scheduled to take place on October 25, 2021.
The regulator alleges that between 21 July 2014 and 6 July 2017, Mr Allen conspired with Ponzi scammer Renwick Haddow to pervert the course of justice. Mr Allen allegedly disguised Haddow’s interest in the property known as 13 Brook Mews, London W2 3BW and its availability as an asset for the part satisfaction of any order that might be made in proceedings brought by the FCA against Haddow.
Meanwhile, the criminal proceedings against Haddow in the United States continue. Haddow’s sentencing has recently been rescheduled until January 22, 2021.
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 the Bitcoin Store scheme – 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.