FCA brings charges against co-conspirator of Ponzi scammer Renwick Haddow
The UK Financial Conduct Authority (FCA) today announces that it has launched criminal proceedings against Stephen Allen following an investigation.
Mr Allen appeared today by video link at Westminster Magistrates Court in relation to a charge of conspiring to pervert the course of justice.
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.
Mr Allen gave no indication as to his plea. The case was referred to Southwark Crown Court for a Plea and Trial Preparation Hearing on November 25, 2020.
Meanwhile, in the United States, 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.